Miner Anglo American has announced that it is withdrawing from its Pebble copper project in Alaska (release).
he Pebble Limited Partnership (PLP) was created in 2007 between AA Pebble and an affiliate of Northern Dynasty Minerals Ltd. ("Northern Dynasty"), who are equal partners in PLP. Following the withdrawal, PLP will proceed under the sole ownership of Northern Dynasty.
Mark Cutifani, chief executive of Anglo American, said:
Despite our belief that Pebble is a deposit of rare magnitude and quality, we have taken the decision to withdraw following a thorough assessment of Anglo American's extensive pipeline of long-dated project options.
We wish the project well through its forthcoming permitting process and express our thanks to all those who have supported Pebble and who recognise the opportunities and benefits that such an investment may bring to Alaska.