One half of the Pebble Limited Partnership – the half that includes Rio Tinto – is looking to sell.
The Pebble Partnership, which involves Northern Dynasty (in which Rio Tinto is a major shareholder) and Anglo American, wants to develop the controversial Pebble Mine near Bristol Bay, Alaska.
The CEO of Northern Dynasty Minerals Ltd. told Bloomberg News March 8 it expects to divest its 50 percent stake in the Pebble mine prospect “anytime later this year or next year.”
“I could see it being either one of the diversified majors singly or a partnership of a major mining company and perhaps an Asian metals trading-slash-smelting company, like a Mitsubishi, Mitsui or Sumitomo, or even one of the Chinese groups,” Northern Dynasty CEO Ron Thiessen told Bloomberg.
Since the Feb. 23 release of a preliminary assessment of Pebble’s value conducted for Northern Dynasty that ruffled feathers with partner Anglo American Plc of London, the Vancouver-based junior mining company has been on an aggressive sales push touting the prospect.