We are confident that the mine can co-exist with the world-class fisheries of Bristol Bay - The Pebble Limited Partnership CEO, Tom Collier
Northern Dynasty Minerals Ltd. Mining News
The U.S. Army Corps of Engineers has accepted Pebble Limited Partnership’s wetlands-fill permit.
Citing community opposition, unprecedented infrastructure requirements, and environmental risks, Earthworks questions whether the mine, located in the Bristol Bay area, will ever be built.
The Pebble Mine copper-gold-moly project in Southwestern Alaska got hit with another negative poll last week. The Huffington Post reports that 81% of the roughly 2000 shareholders of the Bristol Bay Native Corporation — the regional Native corporation and largest private landholder in southwest Alaska — have rejected the mine on the basis that it will "unavoidably put at risk the 'fisheries and our Native way of life.'" The project is a partnership between Anglo American (LON:AAL) and Northern Dynasty Minerals (NYSEAMEX:NAK).
The State of Alaska has filed a constitutional challenge in Alaska Superior Court to strike down a municipal ordinance recently enacted by ballot measure in Southwest Alaska's Lake & Peninsula Borough. By a margin of just 34 votes, local voters supported a ballot measure put forward by anti-Pebble activists that would restrict future development that affects more than one square mile of land within the 31,000 square mile borough.
Northern Dynasty said on Wednesday that Wardrop completed a positive preliminary assessment report for the Pebble copper-gold-molybdenum project in Southwestern Alaska. "For the Pebble Project, the 45-year Reference Case yields a 14.2% pre-tax IRR, a 6.2-year payback on initial capital investment of $4.7 billion and a $6.1 billion pre-tax NPV at a 7% discount rate and long-term metal prices. At current prevailing metal prices, the 45-year Reference Case yields a 23.2% pre-tax IRR, a 3.2-year payback on initial capital investment and a $15.7 billion pre-tax NPV at a 7% discount rate."