Northern Dynasty: Pebble Project Environmental Study Completed
16 February 2012 - 4:42AM
Dow Jones News
After seven years and $150 million spent, Pebble Ltd.
Partnership has finally published an environmental study linked to
the development of the massive Alaskan Pebble gold-and-copper
deposit.
The Environmental Baseline Document, which has more than 27,000
pages, analyzes a broad range of environmental and social
conditions in southwest Alaska--including climate, water quality,
wetlands, fish and aquatic habitat, wildlife, land and water use,
socioeconomics and subsistence.
The document was based primarily on research collected between
2004-2008, although baseline data collecting and monitoring
continues, said Northern Dynasty Minerals Ltd. (NDM.T), a 50% owner
in the Pebble Partnership that is developing the project, one of
the world's largest copper-and-gold deposits.
While environmental studies are usually presented to regulatory
agencies as part of a broader permitting package, the Pebble
Partnership has decided to share its report with project
stakeholders upon completion, in advance of project permitting.
"This massive investment in scientific research not only
reflects PLP's commitment to protect fish, water and other
environmental values when developing the Pebble Project; it also
represents a significant asset to the Pebble Partnership as it
prepares to initiate permitting under the National Environmental
Policy Act," Northern Dynasty President and Chief Executive Ron
Thiessen said.
The Pebble project has faced protests from activists who allege
it could harm an important spawning habitat for wild sockeye salmon
and harm communities around Bristol Bay that depend on fishing.
The Pebble project is jointly owned in equal measure by
U.K.-listed Anglo American PLC (AAL.LN) and Northern Dynasty. Rio
Tinto PLC (RIO) owns 19.16% in Northern Dynasty.
Northern Dynasty said the Pebble Partnership is currently
working to complete a prefeasibility study and initiate project
permitting for the Pebble Project, which could produce annually as
much as 350,000 metric tons of copper, 12,000 tons of molybdenum
and 600,000 ounces of gold. A pre-feasibility study for the project
is expected to be completed in 2012.
The project partners have invested more than $500 million in the
project to date.
-By Alex MacDonald, Dow Jones Newswires; +44 (0)20 7842 9328;
alex.macdonald@dowjones.com
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