Unnamed investor agrees to possible $60M investment in Pebble mine project

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An unnamed investor has agreed to inject up to $60 million into the embattled Pebble copper and gold project in Southwest Alaska, an infusion the owner hopes will allow it to reverse major federal permitting actions against the project.

a proposal that would block project plans if it is approved. That proposal is undergoing a public comment period through early September.the new investment earlier this week.

The investor has made an initial $12 million payment to receive a royalty share of gold production and silver production, Northern Dynasty Minerals said in its announcement. “As I have said many times before, a large amount of copper is critical for the generation and transmission of electricity, and we believe the world needs to develop the few world-class copper assets that have been discovered in order to have any chance of meeting its green energy goals,” he said.

An economic assessment of Pebble last year found it could produce $1.7 billion annually over 20 years, said Bob Loeffler, a former director of the Alaska Division of Mining, Land and Water, now a research professor of public policy at the University of Alaska Anchorage’s Institute of Social and Economic Research.

 

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NAME THE INVESTOR! 🤬

Remember when the foreign Pebble folks promised decades ago when they first showed up that they would honor the will of the people of Alaska? Despite fierce bipartisan rejection, they continue to push their toxic agenda.

AK_OK Why should MONEY cause the reversal of federal restrictions? How does this make sense?

AIDEA. In 2016 the Alaskan Mining Loan Fund was stolen and today it funds only select foreign projects.

POTUS SecDebHaaland nopebblemine

Name the investor

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Despite setbacks, Pebble Mine gets new investment of $9.4 millionComing after a series of significant setbacks for the proposed Pebble Mine, this would seem like unusual time for a big investment. But in late July, Northern Dynasty Minerals received $9.4 million from a new, unnamed investor. Its state money funneled through AIDEA. In 2016 they swiped the state mining loan fund. Now they use your resource royalties to fund themselves.
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