International mining giant Anglo American announced Monday in London that it is pulling out of the Pebble Partnership.
Anglo will book a $300 million loss and leave the project in the hands of Northern Dynasty.
Anglo signed on to the partnership in 2007. Anglo CEO Mark Cutifani says the company still believes in the quality of the mineral deposit.
Northern Dynasty CEO Ron Thiessen says the project will go forward, despite the loss of Anglo in the Partnerhisp. He says, “Northern Dynasty and The Pebble Project have both the expertise and resources necessary to advance the Pebble Project.”