The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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Northern Dynasty Minerals Ltd. March 12 announced plans to raise US$10 million to continue permitting and stakeholder engagement for its Pebble copper-gold-molybdenum project in Southwest Alaska. Cantor Fitzgerald Canada Corp. has agreed to lead a syndicate of underwriters, which also includes BMO Capital Markets, H.C. Wainwright & Co., LLC. and TD Securities Inc., to purchase, on a bought deal basis, 15.63 million Northern Dynasty common shares at US64 cents per share, for...
Pebble Limited Partnership has taken another step toward gaining the permits needed to develop a mine at its large copper-gold-molybdenum project in Southwest Alaska. On Feb. 20, the U.S. Army Corps of Engineers – Alaska District announced that it has published the draft environmental impact statement for a proposed 20-year mine at this world-class deposit that could help fill the United States' increasing need for copper, a demand that is being driven by the expanding e...
Alaska Department of Natural Resources Dec. 28 posted a notice that it has extended the Pebble Limited Partnership's existing miscellaneous land use permit by 90 days, to March 31. This extension will allow the company to continue care, maintenance and reclamation of exploration activities on the Pebble copper-gold-molybdenum property in Southwest Alaska while DNR Division of Mining, Land & Water reviews the application for a 2019 miscellaneous land use permit. Pebble...
Northern Dynasty Minerals Ltd. Dec. 28 completed the second tranche of a C$8.4 million (US$6.3 million) financing that will primarily be used to pay a legal fee connected to the successful 2017 settlement of a suit the company brought against the U.S. Environmental Protection Agency. The settlement, reached early in 2017, opened the door for the enormous Pebble copper-gold-molybdenum project in Southwest Alaska to enter the permitting process unencumbered by predetermined...
Alaska Peninsula Corp., which represents five Alaska Native village corporations in the Bristol Bay region of Southwest Alaska, has reached an agreement with the Pebble Limited Partnership to provide transportation corridor access across its lands to support construction and operation of the proposed Pebble mine. Formed as a merger between the South Naknek, Port Heiden, Ugashik, Kokhanok and Newhalen village corporations, Alaska Peninsula Corp. owns the surface rights to...
DENA'INA CENTER, ANCHORAGE: Tuesday, Nov. 6, 2018 likely marks a crucial turning point for Alaska's mining industry. As the state's mining community gathered for the Alaska Miners Association (AMA) annual convention to celebrate one of the best years for the sector in recent memory, Alaska voters were making decisions that would shape the future of the more than 1,000 people gathered at the Dena'ina Center. In terms of the state economy, the most crucial decision put before...
As Alaska's mining industry nears the end of another hectic year during which metals prices and investor sentiments rose and fell as precipitously as the world's major stock exchanges, the industry is naturally looking into its crystal ball trying to anticipate what the new year will bring. EY Global Mining and Metals does this sort of forecasting by putting out an annual "risk radar" for mining and metals. The idea is to find out what the industry perceives as the top ten...
With a melting point of 5,756 degrees Fahrenheit and a heat-stable crystalline structure, rhenium is extremely resistant to both heat and wear. This durability makes it a vital element in superalloys used in jet and industrial gas turbine engines. "The high-temperature properties of rhenium allow turbine engines to be designed with finer tolerances and operate at temperatures higher than those of engines constructed with other materials," the United States Geological Survey...
Among his final acts before resigning as administrator of the U.S. Environmental Protection Agency, Scott Pruitt directed his agency's Office of Water to put together a proposal to update the regulations governing EPA's role in the permitting discharges of dredged or fill materials, including the elimination of the "preemptive veto" under Section 404 of the Clean Water Act. EPA's current interpretation of regulations on implementing CWA section 404(c) allows the agency to...
Alaska Gov. Bill Walker has called for a halt to an environmental review process aimed at determining whether a mine at Pebble can be developed in a way that protects the environment of the Bristol Bay region where the world-class copper-gold-molybdenum deposit is found. In a June 29 letter to the U.S. Army Corps of Engineers, also signed by Lt. Gov. Byron Mallott, Walker questioned the "readiness of the proposed Pebble project to move forward." The governor cited the lack of...
Alaska Department of Natural Resources April 19 announced that it is taking steps to reestablish the Bristol Bay Advisory Group, originally created to provide input on the 1984 Bristol Bay Area Plan. By reestablishing the group, DNR said it intends to foster dialogue on land use, resource management, and regulatory matters under state purview in the Bristol Bay region of Southwest Alaska. Plans to develop a mine at the Pebble copper-gold-molybdenum deposit on state lands in th...
U.S. Army Corps of Engineers believes it can get to a decision on the Environmental Impact Statement for the proposed Pebble Mine project in Southwest Alaska by spring of 2020, or a little more than two years after the Pebble Partnership submitted permit applications. "If things progress as we see, a decision will be made no earlier than the spring of 2020," said Sheila Newman, deputy chief, Regulatory Division, U.S. Army Corps of Engineers – Alaska District. While this is a...
Northern Dynasty Minerals Ltd. April 5 reported that the deadline of the framework agreement for First Quantum Minerals Ltd. to join the Pebble Partnership has been extended from April 6 to April 30. The framework agreement entered into last December provides First Quantum with the option to earn a 50 percent interest in the Pebble Partnership for US$1.5 billion, which includes a US$150 million initial investment, made in four equal payments of US$37.5 million, to fund...
The U.S. Army Corps of Engineers – Alaska District March 28 published a Notice of Intent to prepare a draft environmental impact statement (EIS) for review of the Pebble Limited Partnership's application to discharge fill material into waters of the United States for the purpose of developing a mine at its world-class copper-gold-molybdenum project in the Bristol Bay region of Southwest Alaska A 30-day public scoping and public comment period is set to begin April 1. This s...
Northern Dynasty Minerals Ltd. Feb. 23 announced a slight bump in the resource for its Pebble copper-gold-molybdenum-silver deposit in Southwest Alaska. The Pebble deposit now hosts 6.46 billion metric tons of measured and indicated resource averaging 0.4 percent (56.9 billion pounds) copper, 0.34 grams per metric ton (70.6 million ounces) gold, 240 parts per million (3.4 billion lb) molybdenum and 1.7 g/t (344.6 million oz) silver. Additionally, this world-class deposit...
Northern Dynasty Minerals Ltd. Feb. 5 reported that the U.S. Army Corps of Engineers has selected AECOM as the third-party contractor that will support them in completing an environmental impact statement for the Pebble project – a significant milestone in the advancement of a National Environmental Policy Act (NEPA) review of the proposed open pit copper-gold-molybdenum mine in Southwest Alaska. AECOM is a global, integrated engineering, environmental, construction and i...
The U.S. Environmental Protection Agency's Jan. 26 decision to not lift its proposed restriction on Pebble does not prevent the world-class copper mine project from being thoroughly vetted under federal permitting process. While EPA has chosen to leave the 2014 pre-permitting restrictions it attempted to impose against Pebble on the table, these limits do not prohibit the permitting process. A federal judge ordered a stay on the implementation of EPA's proposed determination...
As we transition from 2017 into 2018, the weight of evidence pointing to a long-awaited mining industry up-tick is being trumpeted from every financial institution, brokerage house and mining pundit across the globe. For example, RBC Capital Markets' newly released "2018 New Year Preview" has this to say: "We are in the mid-stages of a stock market recovery and the early stages of an economic cycle recovery. Gold is already in a phase where it out-performs other financial...
The permitting process for the world-class Pebble copper-gold-molybdenum mine in Southwest Alaska is officially underway. With this monumental milestone comes the first real look at the new Pebble Mine plan, an engineering feat that the Pebble Partnership believes strikes a balance between environmental footprint and sound economics. "There is a sweet spot in which you can drive down the footprint size and still reach a rate-of-return that makes sense," Pebble Partnership CEO...
With the price for an ounce of gold pushing back above US$1,300 to ring in the new year – along with zinc and copper selling at multi-year highs and trending higher – 2018 is shaping up to be a good year for Alaska's mining sector. Together, zinc and gold account for more than 80 percent of the value of metals mined in Alaska – silver and lead account for most of the balance. While there is currently no significant copper production in Alaska, the Far North state hosts signi...
The Pebble Partnership Dec. 22 submitted permit applications for the Pebble Mine project to U.S. Army Corps of Engineers, initiating the project review process under the National Environmental Policy Act. With roughly 56.8 billion pounds copper, 70.4 million ounces gold, 3.4 billion lb molybdenum and 343.6 million oz silver in measured and indicated resource, Pebble hosts both the largest undeveloped copper and undeveloped gold resource on Earth. While a deposit of this size...
Thanks to its own rich mineral endowment, Australia is a juggernaut in the world of mining, especially across the Southern Hemisphere. Over the past couple of years, however, a growing number of Aussie mining companies are looking north to Alaska, another minerals-rich land way north of the Equator. At least four Aussie juniors – White Rock Minerals Ltd., PolarX Ltd., Nova Minerals Ltd. and Riversgold Ltd. – and three Australia-based metals producers – South32 Ltd., North...
With rising metals prices helping to bolster the state's mining sector, Alaska mine leaders had good news to deliver to Alaska Senate and House resource committees during a Feb. 13 trip to Juneau. "I am happy to report that after four years of declining metals prices things started to improve in 2016, so we are able to report better economic numbers for 2017," Council of Alaska Producers Executive Director Karen Matthias informed members of the resource committees. The strong...
In a framework agreement announced on Dec. 18, First Quantum Minerals Ltd. was revealed as the major mining company that will complete the Pebble Limited Partnership. "We have made good progress in the partnering process and are very pleased to be in advanced-stage discussions with First Quantum, an industry leader in mine development and management," Ron Thiessen, president and CEO, Northern Dynasty Minerals Ltd., currently the sole owner of the Pebble Partnership. While the...
In a framework agreement announced on Dec. 18, First Quantum Minerals Ltd. was revealed as the major mining company that will complete the Pebble Limited Partnership. "We have made good progress in the partnering process and are very pleased to be in advanced-stage discussions with First Quantum, an industry leader in mine development and management," Ron Thiessen, president and CEO, Northern Dynasty Minerals Ltd., currently the sole owner of the Pebble Partnership. While the...
