VANCOUVER / ACCESSWIRE / July 6, 2020 /
Northern Dynasty Minerals Ltd. (TSX:NDM)(NYSEAmerican:NAK) ("Northern Dynasty" or the "Company") reports that its 100%-owned US-based subsidiary Pebble Limited Partnership (the "Pebble Partnership") has signed a Memorandum of Understanding ("MOU") to develop a consortium of Alaska Native village corporations as a major transportation contractor for the proposed copper-gold-molybdenum mine.
The MOU signed this week with Alaska Peninsula Corporation ("APC") positions APC to lead the development of a consortium of Alaska Native village corporations with land holdings along Pebble's 82-mile access route north of Lake Iliamna. Once formalized, the consortium will provide road maintenance, truck transport, port operations and other logistics services to the future Pebble mine - contracts expected to exceed US $20 million in value each year.
"It has always been a core commitment of ours and the Pebble Partnership's that this project benefit local communities and local people," said Ron Thiessen, Northern Dynasty President & CEO. "As we move toward a Final Environmental Impact Statement ("EIS") this month and a Record of Decision later this summer, we are rolling out a series of programs and announcements to bring that commitment to life."
Thiessen said the lead federal agency for Pebble's permitting process, the US Army Corps of Engineers, has now signaled the Final EIS will be published July 24, 2020. In the run-up to this key milestone, the Pebble Partnership has announced the Pebble Performance Dividend initiative to distribute a 3% net profit royalty interest in the future Pebble mine to full-time residents of Bristol Bay, the initiation of a public consultation process for power-sharing in the region, and now the formation of a major local contracting consortium.
Other benefits Pebble is expected to generate for the people of Bristol Bay and Alaska include:
- between 850-1000 full-time, direct high-wage jobs and as many as 2,000 total jobs;
- up to $400 million annually in mine expenditures;
- more than $50 million annually in state government revenues; and
- up to $20 million annually in revenues for the Lake & Peninsula Borough.
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