Pebble Picks Up the Pieces

With the announcement that Anglo American is withdrawing from the Pebble Mine project, the Pebble Limited Partnership says they’re considering how to move forward.

 

Canadian company Northern Dynasty Minerals remains committed to the project, now as the sole backer. Northern Dynasty CEO Ron Thiessen quoted Anglo’s American CEO…

 

Thiessen: “In terms of Anglo’s decision, Mark Cutifani ‘s quote that, ‘This is not about Pebble, it’s about Anglo,’ best defines, to the best I can gather, Anglo’s position that they had other extenuating circumstances, which just in the unfortunate circumstance for them, led them to this decision ultimately. From NDM’s standpoint, this means that we will now be back in possession of 100 percent of the Pebble project and the beneficiary of something north of $540 million worth of expenditures by Anglo over the last five years.”

 

Thiessen said Anglo’s investment has helped the project face ongoing pre-approval battles. Now…

 

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

 

Now, the company is counting the cost of permitting, estimated at $10 million per year.

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