Pebble Investor Denies Sale Reports

The mine project is Northern Dynasty Mineral's sole asset, and CEO Ron Thiessen said they have no plans to sell it.

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By Kirsten Swann

Story Created: Sep 1, 2011 at 11:00 AM AKDT

Story Updated: Sep 1, 2011 at 11:03 AM AKDT

After media reports claimed a major investor in the proposed Pebble Mine project planned on backing out, company executives say – they’re not going anywhere.

 

The rumors stemmed from a recent progress report on the project released by Northern Dynasty Minerals, Ltd.

 

Northern Dynasty is categorized as a junior resource development company, and owns a fifty percent interest in the Pebble project.

 

The project is the mining company’s sole asset, and CEO Ron Thiessen said they have no plans to sell it.

 

Instead, the chief executive officer said the progress report was intended for larger companies interested in Northern Dynasty itself.

 

“We need to be proactive on that front and that’s what this process is all about,” Thiessen said. “But for one thing, for certain, Northern Dynasty is not remotely interested in selling its interests in the Pebble Partnership."

 

So does the company face a change of hands? Thiessen said there are no current bids.

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