Alaska mine worth $300 billion
Alaska’s Pebble deposit presents big problems for Northern Dynasty, the junior Canadian miner that wants to cash out of its sole asset. Pebble has an eye-popping recoverable resource of 67 million ounces of gold and 55 billion pounds copper with some molybdenum thrown in for good measure which at today’s prices is worth over $300 billion in total.
The Vancouver company shares the venture with Anglo-American but the $4.7 billion development costs could be too rich even for the London-listed giant’s blood. Apart from the problem of finding a heavyweight buyer for its 50%, Dynasty also faces opposition from a $150 million a year salmon fishery near the site and local environmental protesters who have enlisted the support of Hollywood celebrities like Robert Redford.