July 29, 2010
Northern Dynasty enjoys an enviable position as a partner in the development of the Pebble Project — particularly in today's volatile financial market.
Not only does the company own 50% of one of the world's great mineral deposits with the potential to become a leading global producer of copper, gold and molybdenum. Pebble is also unique because all the financial and human resources necessary to successfully design and permit the project are in place today.
To retain its 50% interest, Anglo American plc must fund $1.425 to $1.5 billion in project costs — taking Pebble through permitting and into construction. The global mining giant has also devoted many of its senior engineers and technical specialists to the project, providing the Pebble Partnership with a world-class mine development team.
The Pebble Partnership is led by some of Alaska's most respected resource development professionals — including CEO John Shively, a former Commissioner of the Alaska Department of Natural Resources. In total, some 20 senior engineers and technical specialists, as well as 58 leading engineering firms and specialized consultancies from the U.S. and around the world, are dedicated to the Pebble study team.
All of these resources (financial and human) are driving the Pebble Project toward development at no cost to Northern Dynasty. As of March 31, 2010, the company has a cash reserves of CAD$46.5 million and no financial commitments.