It was announced on Monday, that Anglo American would be pulling out of the proposed Pebble Mine project after 6 years of work, leaving Northern Dynasty Minerals to assume sole responsibility for the project. Anglo American, a British mining company, owned 50 percent of the share in the Pebble Project. Northern Dynasty believes that there could be as much as $300 billion in resources in the proposed mining area.
The Pebble Mine project is still in an exploration phase, and critics believe that the mine presents a risk to the salmon fishery and watershed in Bristol Bay. Residents of the region are split between the potential job creation in the area and the watershed issues that are raised by the potential mine.
Northern Dynasty Minerals, a Canadian company, has been working on the Pebble Project for the past 12 years. A note from Northern Dynasty's CEO Ron Thiessen stated:
"Northern Dynasty will again own 100 percent of one of the world's most important copper & gold resources and will have the benefit of $541 million worth of expenditures, which opens the door to a number of exciting possibilities for Northern Dynasty and its shareholders and the Pebble Project and its stakeholders. Northern Dynasty and the Pebble Partnership have both the expertise and resources necessary to advance the Pebble Project."