Name of the Project
Pebble copper/gold/molybdenum/silver/rhenium project.

Location
South-west Alaska, in the US.

Project Owner/s
Pebble Limited Partnership (PLP), a subsidiary of copper and gold developer Northern Dynasty Minerals.

Project Description
A new preliminary economic assessment (PEA) published in September 2023 has provided new cost and price estimates and details an infrastructure plan that uses the “southern route” for the project access.

The 2023 PEA updates the Environmental Protection Agency’s final determination and the US Army Corps of Engineers’ record of decision appeal processes.

The 2023 PEA provides production, financial and cost estimates for a proposed 20-year, 180 000 t/d openpit operation with conventional processing producing two concentrates for the Pebble project.

The project will be capable of processing 1.3-billion tons of mineralised material over the life-of-mine at a strip ratio of 0.12:1.

On average, the mine will produce 320-million pounds a year of copper; 368 000 oz/y of gold; 15-million pounds a year of molybdenum; 1.8-million ounces a year of silver and 10 000 kg/y of rhenium.

Potential Job Creation
The project could create 750 to 1 000 direct jobs for Alaskans and 2 000 jobs overall.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at a 7% discount rate, of $2.23-billion and an internal rate of return of 16.25%, with a payback of 4.6 years.

Capital Expenditure
Initial capital costs for the design, construction, installation and commissioning of the proposed project are estimated to be $6.77-billion.

Planned Start/End Date
Not stated.

Latest Developments
Northern Dynasty Minerals and PLP have filed a brief in the Alaska Federal Court responding to the brief filed by Department of Justice (DoJ) on February 17 on behalf of the US Environmental Protection Agency (EPA).

The State of Alaska, Iliamna Natives and Alaska Peninsula Corporation filed response briefs on April 14.

The arguments presented “clearly demonstrate the flaws in the DoJ brief and the compelling reasons why the veto is illegal and should by withdrawn immediately”, Northern Dynasty has said.

The proposed Pebble mine has gone through a lengthy approval and permitting process for decades, but its construction is yet to start.

EPA restricted the development of the proposed Pebble project in 2023 by blocking the disposal of mine waste in certain waters within the Bristol Bay watershed area, under Section 404 of the Clean Water Act. This prevented the project from advancing through the federal permitting process.

The Iliamna Natives and Alaska Peninsula Corporation, which represent the communities closest to the copper and gold mining project, subsequently sued the EPA for exceeding its authority related to the veto. Northern Dynasty itself filed a suit in March 2024 against the EPA’s 2023 decision.

Northern Dynasty president and CEO Ron Thiessen has maintained in the company’s latest statement that the veto remains illegal and that he has a high level of confidence that the court will agree and order that the veto be vacated.

Thiessen contends that the conclusions upon which the government has rested its veto determination are directly contradicted by the Final Environmental Impact Statement prepared pursuant to the National Environmental Policy Act.  

Thiessen has further noted that EPA did not attempt to provide an explanation as to why its conclusions contradict those reached in the Final Environmental Impact Statement – which serves as the ‘gold standard’ for resolving complex scientific and factual issues where various parties hold different views.

Northern Dynasty’s latest brief to the court outlines how EPA’s economic analysis failed to comply with the law because it did not calculate the positive economic impacts offered by the project. Instead, EPA reportedly exaggerated the negative impact costs.

Northern Dynasty has expressed its belief that the issue is bigger than just the Pebble project, and has said that projects across the US are put at risk with such a precedent by EPA.

The company has also said that the DoJ has contradictory sentiments if it supports the EPA in such decisions while trying to advance a pro-energy, pro-mining and pro-development agenda.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Northern Dynasty Minerals, tel +1 604 684 6365 or email info@northerndynasty.com.
PLP, tel  +1 907 339 2600 or email receptionist@pebblepartnership.com.