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| Northern Dynasty Minerals Ltd.'s principal asset is the Pebble copper-gold-molybdenum deposit and 153 square miles of associated resource lands in southwest Alaska. Pebble is one of the most significant undeveloped porphyry systems and greatest stores of mineral wealth in the world. Located on American soil, the Pebble deposit is remarkable for both its size and composition. Current estimates indicate a total resource of 5.1 billion tonnes measured and indicated and 4.0 billion tonnes inferred, containing 72 billion pounds of copper, 94 million ounces of gold and 4.8 billion pounds of molybdenum, as well as quantities of silver, palladium and rhenium. On July 31, 2007, a wholly-owned affiliate of Northern Dynasty and a wholly-owned subsidiary of Anglo American plc entered a 50:50 partnership to design, permit, construct and operate a modern, long-life mine at Pebble. Under the terms of the agreement, Anglo is required to fund the next $1.425 billion of project costs, after which expenditures will be split 50:50. Anglo's investment is expected to to fund the Pebble Project through permitting and well into construction. Under the direction of U.S.-based management within the Pebble Limited Partnership, the Pebble Project is on a path to development. Key project strengths include: • a proven deposit with the tonnes, grade, metallurgy and geometry to support a modern, long-life mine; • favourable terrain and low elevation; • a stable and predictable regulatory environment; • ready financial and human resources to achieve project permitting and construction; • broad public support for responsible resource development in Alaska. |
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