Despite setbacks, Pebble Mine gets new investment of $9.4 million

In late July, Northern Dynasty Minerals received $9.4 million from a new, unnamed investor. Coming after a series of significant setbacks for the proposed Pebble Mine, this would seem like unusual time for a big investment.to prohibit the discharge of mining materials in the waters around the Pebble deposit — a decision that would effectively kill the project if it stands — and the Army Corps of Engineers denied Pebble’s permit in 2020. Pebble and Gov.

“We found in the past that many of the ENGO [Environmental Non-Governmental Organization] community will use this information to wage public campaigns against our investors, which doesn’t seem fair to me or reasonable even, but they try to pressure them and they try to block them, etc., and make life unpleasant for them. So we’re just choosing not to release their name at this time,” he said.

But this is just a fraction of the company’s peak price of more than $20 on Feb. 17, 2011. Westerlund said the new investment will help “move the permitting forward.” Westerlund said that with each $9.4 million the new investor commits, it will receive 5% of silver and 6% of gold produced over the lifetime of the mine.

Loeffler worked for the Alaska Department of Natural Resources for over two decades. His job at UAA is funded in part by the Council of Alaska Producers, a mining trade association. Loeffler said his professional obligation is to the university, not the industry.

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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