Over US $750 million has been invested in the Pebble Project. This includes US $573 million invested by Anglo American from 2007-2013(1)
. Advances include:
- delineation of an estimated mineral resource totalling 6.44 billion tonnes in measured and indicated and 4.46 billion tonnes in inferred categories;
- more than ten years and over US $150 million spent on environmental and socioeconomic studies to support project design and permitting;
- technical and engineering studies for mine site facilities and project infrastructure(1); and
- investment in workforce and business development, stakeholder consultation and community programs.
In May 2013, a comprehensive National Economic Impact Study
authored by IHS Global Insight entitled The Economic and Employment Contributions of a Conceptual Pebble Mine to the Alaska and United States Economies
was released, detailing potential economic contributions of a project such as Pebble to the State of Alaska and the United States(2)
Expenditures during this period were largely focused on exploration programs, resource estimates, environmental data collection and technical studies, with a significant portion spent on engineering of various possible mine development models, as well as related infrastructure, power and transportation systems. As a consequence of several factors, including EPA's pre-emptive regulatory action under Section 404(c) of the Clean Water Act, the withdrawal of Anglo American from the project and the passage of time, technical and engineering studies related to mine-site and infrastructure development are considered to have very uncertain and perhaps little value at this time. Environmental baseline studies and data collection remains a significant legacy asset of the Company from this period.
The IHS Global report is based on a conceptual mine plan using an iteration of the engineering work undertaken by the Pebble Partnership at that time. No final project design has been selected or approved at this time. The IHS report is intended to provide information about general economic effects/contribution of a development at Pebble to Alaska and the United States. The report should not be used to evaluate the Pebble Project's impact on Northern Dynasty.