Pebble
From IntFX
Contents |
[edit] Brief Overview
Cominco, a predecessor of Teck Cominco, discovered the Pebble West deposit in 1988 and explored the property to 1997.
In November 2001, Northern Dynasty entered into agreements to purchase the property and by 2005 had completed the exercise of its options, acquiring 100% of the property.
Northern Dynasty carried out property-wide exploration programs in 2002. Drilling in 2003-2004 expanded the Pebble West deposit to 4.1 billion tonnes and upgraded 75% of its resources to Measured and Indicated classifications. In late 2005, the world-class Pebble East deposit was discovered. Pebble East is a substantial, high volume, underground mine opportunity. In 2006, delineation drilling and numerous engineering, environmental and socioeconomic studies were initiated and are ongoing in 2008. These studies are designed to provide the information necessary for an optimum development plan, which integrates the extensive mineral resources in Pebble East and Pebble West.[1]
[edit] Location
The proposed Pebble Mine will be located on state of Alaska lands, not lands owned by Bristol Bay Native Corporation.[2]
[edit] Ownership
In January 2007, an affiliate of Rio Tinto plc endorsed the Pebble Project by acquiring a 19.8% threshold shareholding in Northern Dynasty. In July 2007, a Northern Dynasty affiliate and a subsidiary of Anglo American plc established a 50:50 partnership, operated by the Pebble Partnership, to advance the Pebble Project to production.[3]
[edit] Production per annum
[edit] Production Start Date
Operations could begin as soon as 2015.[4]
[edit] Deposit size
| Cut-Off | Size | Grade | ' | ' | ' | Contained Metal6 | ' | ' |
| CuEQ | Million | Copper | Gold | Molybdenum % | CuEQ | Copper | Gold | Molybdenum |
| % | Tonnes | % | g/t | % | B lbs | M oz | B lb | |
| Inferred Resources | ||||||||
| 0.6 | 3,860 | 0.58 | 0.36 | 0.033 | 0.99 | 49 | 45 | 2.8 |
| 1 | 1,520 | 0.82 | 0.49 | 0.035 | 1.32 | 27 | 24 | 1.2 |
[edit] Operating cost per pound
[edit] Capital Cost
[edit] External Analysis
When the Pebble Project is fully planned, Pebble Mines expects to make an application for an Environmental Impact Statement (EIS) -- a requirement under the National Environmental Policy Act -- which will serves as a central document for an open, transparent, public and government review of the project. The EIS will comprehensively and rigorously define the environmental and social aspects of the project. Following development of the EIS, the Pebble Partnership will apply for permits from relevant Federal and State government agencies to build and operate a mine a Pebble. The Pebble Partnership is working to maximize the benefits to local communities through local purchase, local hire, and workforce training and development programs as well as other community initiatives.[6]
[edit] Political Segment
[edit] Disputes – international
- Stop Pebble Mine is a group of individuals that have a stake in the Bristol Bay Region that want to preserve the pristine beauty and vast wilderness where the proposed Pebble Mine is to be placed.[7]
- The profits from the development of the mine will not profit Native Corporations in a way that profits from the development of Red Dog mine are profiting NANA Regional Corporation and other Alaska Native corporations through 7i profit sharing.
- The only benefits to Alaska Native shareholders statewide will be potiential jobs that will be created. Not like the millions of dollars will be shared by Red Dog Mine and the potential Donlin Creek mine in the Calista region.
- The tax rate for mining in Alaska is so low that there will be little benefit to residents of Alaska.
- Jobs is the main selling point of the mine development. I can tell you I don't plan on quiting my job to take a mine job. There are many good jobs on the slope. How many of those are held by people living in Barrow?
[edit] Opposition
The list of people and companies that oppose the Pebble Mine.
1. William A. Johnson
" William A. Johnson eagle_ii@hotmail.com
2. Sally Gumlickpuk!
3. Cynthia D. Olson Tamara Fields Alaska Resident; Biologist
4. Kevin Church It is no longer acceptable to extract natural resources for the benefit of a few in locations that are priceless. The entire world knows better
5. Adam Mason Des Moines, IA
6. Shannon DiRuzzo Anchorage, AK
Please stop the Pebble Mine and learn from the past mistakes made in mining. It can never be restored to it's original state and there is always more degradation then expected.
7. Ben Walsmith
8. Kristen Thibodo Boise, ID This is a disgrace.
9. Matt Christian Sun Valley, ID Stop the mine!
10. David Tessler Girdwood, AK Stacy Starr Helena, Montana
11. Lena Krutikov Fairbanks, AK
12. Bill O'Connell Worked around Iliamna in the past, former commercial fisherman Gold runs out, so do the jobs that go with it. Salmon has provided a lielihood for Alaskans for thousands of years. No gold is worth risking that
13. James Montesi Anchorage, AK.[8]
[edit] Economic Segment
| GDP (purchasing power parity) | $13.86 trillion (2007 est.) |
| GDP (official exchange rate): | $13.79 trillion (2007 est.) |
| GDP - real growth rate: | 2.2% (2007 est.) |
| GDP - per capita (PPP): | $46,000 (2007 est.) |
| GDP - composition by sector: | agriculture: 0.9% |
| industry: 20.6% | |
| services: 78.5% (2007 est.) | |
| Unemployment rate: | 4.6% (2007 est.) |
| Population below poverty line: | 12% (2004 est.) |
| Inflation rate (consumer prices): | 2.7% (2007 est.) |
| Investment (gross fixed): | 15.6% of GDP (2007 est.) |
| Budget: | revenues: $2.568 trillion |
| expenditures: $2.731 trillion (2007 est.) | |
| Public debt: | 36.8% of GDP (2007 est.) |
| Industrial production growth rate: | 0.5% (2007 est.) |
| Oil - production: | 8.322 million bbl/day (2005 est.) |
| Oil - consumption: | 20.8 million bbl/day (2005 est.) |
| Oil - exports: | 1.048 million bbl/day (2004) |
| Oil - imports: | 13.15 million bbl/day (2004) |
| Oil - proved reserves: | |
| 21.76 billion bbl (1 January 2006 est.) | |
| Natural gas - production: | 490.8 billion cu m (2005 est.) |
| Natural gas - consumption: | 604 billion cu m (2005 est.) |
| Natural gas - exports: | 19.8 billion cu m (2005 est.) |
| Natural gas - imports: | |
| 117.9 billion cu m (2005) | |
| Natural gas - proved reserves: | |
| 5.551 trillion cu m (1 January 2006 est.) | |
| Current account balance: | -$747.1 billion (2007 est.) |
| Economic aid - donor: | ODA, $23.53 billion (2006) |
| Reserves of foreign exchange and gold: | $65.89 billion (2006 est.) |
| Debt - external: | $12.25 trillion (30 June 2007) |
| Stock of direct foreign investment - at home: | $1.818 trillion (2006 est.) |
| Stock of direct foreign investment - abroad: | $2.306 trillion (2006 est.) |
| Market value of publicly traded shares: | $17 trillion (2005) |
| Currency (code): | US dollar (USD) |
[edit] Notes
All aspects of the development are being assessed, including underground and open pit mineral resources and road, power and port options
