Pebble Project

Porphyry copper-gold-molybdenum-silver-rhenium deposit (Pebble East and Pebble West zones) in southwest Alaska, ~200 mi southwest of Anchorage and 17 mi northwest of Iliamna, held 100% through the Pebble Limited Partnership via 1,840 mining claims covering 277 sq mi of State of Alaska land. The 2023 PEA contemplates a 20-year, 180,000 short ton/day conventional open pit (final pit 6,800 ft x 5,600 ft, depth to 1,950 ft, strip ratio 0.12) producing copper-gold, molybdenum, and gravity gold concentrates, with third-party infrastructure (187 mi gas pipeline, 97 mi transport corridor, marine terminal, 270 MW power plant) and expansion scenarios up to 270,000 t/d extending life up to a century. Permitting is blocked by the USACE 2020/2024 RODs and the EPA's 2023 CWA 404(c) Final Determination, all under challenge in U.S. federal court; a 'takings' action is paused. Subject to the US$60M gold/silver Royalty Agreement and a Teck NPI over Exploration Lands outside the mine plan.