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Canadian investor withdraws from Alaska mine project



Updated 21:49, Friday, May 25, 2018


JUNEAU, Alaska (AP) – A Canadian company hired as a potential partner in a planned copper and gold mine near one of the largest salmon fisheries in Alaska in the world [19659010] Northern Dynasty Minerals Ltd., which plans to develop the Pebble Mine project in southwest Alaska, said on Friday that it was not possible to conclude an agreement with First Quantum Minerals Ltd., the potential investor.

It was not immediately clear what happened or what this meant for the project for which an application to the US Army Corps of Engineers is pending.

Tom Collier is CEO of the Pebble Limited Partnership, which belongs to the Northern Dynasty. In a statement, he said that Friday was "business as usual" for him, and the developers would "push further forward".


He said he believes Pebble will secure funding for the continuation of the approval process First Quantum Minerals spokesman did not respond to a request for comment. The company posted a Northern Dynasty publication on its website that contains no details.

When the two companies announced their talks in December, Philip Pascall, Chairman and CEO of First Quantum Minerals, said in a press release that the Pebble project is widely known as "

He said his company was" Highly aware of the environmental and social sensibility of this project. "

Critic of the project, which is based in Bristol Bay, Alaska, praised news of the botched deal. Bristol Bay produces about half of the world's famous red salmon.

Joel Reynolds, Western Director of the Natural Resources Defense Council, said in a statement that First Quantum Minerals has done the right thing.

"We hope First Quantum's decision will close the door, once and for all, on this poorly thought-out one and uniquely reckless scheme, "said Reynolds.

The Northern Dynasty had been looking for a new partner since Anglo American PL C announced that it will move out in 2013.

The Pebble Limited Partnership closed a long-standing lawsuit last year with the US Environmental Protection Agency, which cleared the way for finding permits for the mine project.

However, the EPO has left open the possibility of future development restrictions. [19659010CollierAnfangdiesesJahressagtedasUnternehmenwerdezeigendasses"eineMineerfolgreichbetreibenkannohnedieFisch-undWasserressourcenumdasProjektzukompromittieren"


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