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
The US Department of Justice (DoJ) filed a court brief in Alaska on February 19, supporting the Environmental Protection Agency’s (EPA’s) veto of Northern Dynasty’s flagship Pebble project.

The DoJ lodged its brief in Alaska Federal Court on February 17, supporting the EPA’s prior determination to restrict development of the proposed copper/gold/molybdenum project.
Northern Dynasty and PLP are seeking summary judgment in their legal challenge against the EPA’s veto.

“We find it surprising that, despite the executive orders and the many statements made by the administration related to Alaskan development, pro-energy, procritical metals, prodefence and military support, [thus] removing roadblocks to permitting on the need for copper, etc., this EPA would choose to defend the unlawful Obama-Biden veto,” Northern Dynasty president and CEO Ron Thiessen has said.

“This precedent will be used by future democratic administrations to reverse all . . . the progress this administration has made with its pro-energy, promining, prodevelopment agenda.”

The EPA’s veto, originally issued under Section 404(c) of the Clean Water Act, effectively blocks the disposal of mine waste in certain waters within the Bristol Bay watershed area, preventing the project from advancing through the federal permitting process.

The company is reviewing the DoJ’s filing with its legal advisers. 

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.