On May 24, 2018, Northern Dynasty Minerals, the sole owner of the Pebble Limited Partnership, announced that they lost another financial backer, First Quantum.
In December 2017, Northern Dynasty announced that First Quantum would enter into a financial partnership with Pebble; funding them at $150 million over four years and then becoming a 50 percent owner of the mine. This funding was critical for Pebble to begin the permitting process for their proposed mine in Bristol Bay, Alaska.
This is the fourth company to pull out of a partnership with Northern Dynasty to fund Pebble Mine. ASA had joined other sportsmen’s groups in a letter in April 2018 to this new potential financing partner, First Quantum, expressing our opposition to this type and size of a mine in this world-class salmon fishery.
ASA will keep up-to-date on any further actions or proposals from Pebble and will make sure the sportfishing industry’s voice is heard in this matter. The comment period for Pebble’s proposal remains open until June 29. Make sure to visit Keep America Fishing to take action today by submitting your comment opposing the proposed mine.
For more information, please contact Policy Fellow, Ashley Brinkman.