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 Vancouver-based Northern Dynasty Minerals.

Project Description
A preliminary economic assessment (PEA) published in September 2023 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 and PLP, have confirmed that they are engaged in settlement discussions with the US Environmental Protection Agency (EPA).

In a court filing dated July 3, 2025, the EPA stated that agency officials had been briefed on the case and are actively reviewing previous decisions. The filing noted that the EPA remains open to reconsideration and that the defendants and PLP are in talks aimed at reaching a potential settlement. These discussions include the possibility of PLP submitting further materials to support the agency’s reconsideration. The parties anticipate finalising the scope of this submission within two weeks and have requested the court to extend the current abeyance by 14 days, with a status update due on July 17, 2025.

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.