Northern Dynasty Acquires Pebble

This week the remaining partner in the Pebble Partnership, Northern Dynasty Minerals, officially took the reins, acquiring 100 percent of the Partnership’s interests. In September, Anglo American announced it would be withdrawing from the venture, focusing its portfolio on lower-risk projects.

 

NDM CEO Ron Thiessen said as of September 30, they’d already spent $556 million on the project in the last five years and ‘substantial’ progress has been made…

 

Thiessen: “We’re in a position where we are 99 percent complete on the project description, which is the functional document for permitting purposes.”

 

Pebble is planning to “trigger” federal and state permitting under the National Environmental Policy Act (NEPA) in the first quarter of 2014.

 

They continue to search for another partner.

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