First Quantum buys option for stake in Northern Dynasty project

Dec 18 (Reuters) – Northern Dynasty Minerals, owner of the Pebble copper-gold project in Alaska, said rival First Quantum Minerals acquired the option to buy half of the project for $1.50 billion.

Under the agreement, First Quantum can make an option payment of $150 million over four years to buy the right to earn a 50 percent interest in the Pebble Limited Partnership for $1.35 billion.

(Reporting by John Benny in Bengaluru; Editing by Maju Samuel)