A small step towards the world’s largest undeveloped copper and gold mining project

Northern Dynasty Minerals Ltd (ND3) owner of Pebble Ltd. Partnership has announced that it has completed the convertible note and private placement financings respectively for $15 million and C$3.42 million. The funds will be used in the Pebble copper-gold project in Alaska.

Ronald Thiessen has indicated that generated money will be used “in a responsible manner for the benefit of all Alaskans, especially those in southwest Alaska closest to the Pebble project.”

Pebble Mining Project

According to the Northern Dynasty Minerals: The Pebble deposit is one of the greatest stores of mineral wealth ever discovered, and the world’s largest undeveloped copper and gold resource. The resource estimate includes 6.5 billion tonnes in the measured and indicated categories and 4.5 billion tonnes in the inferred category, containing billions of pounds of copper and molybdenum, millions of ounces of gold and silver plus millions of kilograms of rhenium. Palladium also occurs in the deposit.

Project roadblocks

According to the updated preliminary economic assessment adding in an infrastructure plan for a “southern route” access to the proposed mine, which, if built, would represent the largest in North America. However, it should be highlighted that the projected mining activity is still in a large “if”. The project is facing multipole roadblocks which include fierce opposition from local communities as well as the Biden administration.