Pebble Project Enviro Permitting Expected To Wrap Up Next Year
Northern Dynasty received more funding to complete its permitting work at Pebble Creek, the world's biggest undeveloped gold and copper mining project, the company said in a news release.
Cantor Fitzgerald was lead underwriter in a US$5 million bought deal.
Northern Dynasty said it expects permitting for its environmental impact statement to wrap up by 2020.
"Meanwhile, Northern Dynasty remains in discussion with potential partners to secure long-term funding to finalize permitting and initiate project development," the company said in a news release.
The Pebble Project is located in southwest Alaska. On the company's website it says the current resource estimate includes 6.5 billion tonnes in the measured and indicated categories containing 57 billion lb copper and 71 million oz gold.
The Pebble Project is considered controversial due to its proximity to large salmon runs in Alaska. The election of President Trump helped propel the project after the Obama administration fought against development of the mine.