Red Dog PILT agreement finalized

The Northwest Arctic Borough and Teck Alaska, operator of the Red Dog Mine, May 3 announced that they have finalized a new 10-year payment in lieu of taxes agreement.

Under the terms of the agreement, Red Dog would flow roughly US$20 million to US$26 million into the borough each year under the new agreement. Roughly US$14 million to US$18 million of these funds would be paid directly to the North...