Pebble Gets an Investor – Confidence in Project Shown

Pebble Gets an Investor – Confidence in Project Shown

August 2, 2022

Late last week, the Pebble Limited Partnership (PLP) announced an unnamed investor had committed $60 million to the project, in exchange for a life-of-the-mine royalty on produced silver and gold.

The first $12 million has been received and will be used for ongoing operations, as well as fighting against the proposed EPA’s 404(c) preemptive veto actions and misguided Congressional activities designed to doom the copper, gold, molybdenum, rhenium and silver prospect in Southwest Alaska from being built.

For Pebble, which has a projected value of more than $1 trillion in mineral opportunity, the investor shores up its balance sheet, as well as provides the ability to tout overall support for the project. 

Now, it is up to the Governor and our Congressional delegation – with Senators Murkowski and Sullivan both having publicly vilified the project, in an overtly retaliatory action following the release of the “Pebble Tapes” by an ENGO – to do the right thing and change their stance, stand with PLP and its investor and demand the EPA and Biden administration drop its opposition.

As environmental pressure to move forward with an energy transition mounts – without having a plan to source copper and other materials – Pebble is a solution, and would provide the US with a critical supply source for copper, which faces a global shortage.  

The jobs, royalties, revenues, and clean environmental impact statement from the US Army Corps of Engineers are all reasons to support Pebble.  Here’s hoping this announcement spurs continued support.