Northern Dynasty to share Pebble mine revenue with locals – by Cecilia Jamasmie (Mining.com – June 17, 2020)

https://www.mining.com/

Northern Dynasty Minerals (TSX: NDM), the company behind a proposed massive copper-gold mine in southwest Alaska, has announced a revenue sharing program for full-time residents of Bristol Bay.

The initiative would distribute a 3% of the revenue generated from the Pebble copper-gold-silver mine among adult locals who subscribe as participants of the “Pebble performance dividend” plan.

Northern Dynasty’s subsidiary Pebble Limited Partnership said the dividend would distribute a guaranteed minimum annual payment of $3 million, beginning “at the outset of project construction”.

The US-based unit noted the revenue-sharing plan was intended to mirror Alaska’s Permanent Fund, which distributed an annual dividend to the state’s full-time residents based on revenue derived from natural resource activity.

“When we rolled out our new, smaller mine plan in 2017, I made a commitment to find a way to share the opportunity Pebble represents with the residents of Bristol Bay.

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