After seven years and $150 million spent, Pebble Ltd. Partnership has finally published an environmental study linked to the development of the massive Alaskan Pebble gold-and-copper deposit.

The Environmental Baseline Document, which has more than 27,000 pages, analyzes a broad range of environmental and social conditions in southwest Alaska--including climate, water quality, wetlands, fish and aquatic habitat, wildlife, land and water use, socioeconomics and subsistence.

The document was based primarily on research collected between 2004-2008, although baseline data collecting and monitoring continues, said Northern Dynasty Minerals Ltd. (NDM.T), a 50% owner in the Pebble Partnership that is developing the project, one of the world's largest copper-and-gold deposits.

While environmental studies are usually presented to regulatory agencies as part of a broader permitting package, the Pebble Partnership has decided to share its report with project stakeholders upon completion, in advance of project permitting.

"This massive investment in scientific research not only reflects PLP's commitment to protect fish, water and other environmental values when developing the Pebble Project; it also represents a significant asset to the Pebble Partnership as it prepares to initiate permitting under the National Environmental Policy Act," Northern Dynasty President and Chief Executive Ron Thiessen said.

The Pebble project has faced protests from activists who allege it could harm an important spawning habitat for wild sockeye salmon and harm communities around Bristol Bay that depend on fishing.

The Pebble project is jointly owned in equal measure by U.K.-listed Anglo American PLC (AAL.LN) and Northern Dynasty. Rio Tinto PLC (RIO) owns 19.16% in Northern Dynasty.

Northern Dynasty said the Pebble Partnership is currently working to complete a prefeasibility study and initiate project permitting for the Pebble Project, which could produce annually as much as 350,000 metric tons of copper, 12,000 tons of molybdenum and 600,000 ounces of gold. A pre-feasibility study for the project is expected to be completed in 2012.

The project partners have invested more than $500 million in the project to date.

-By Alex MacDonald, Dow Jones Newswires; +44 (0)20 7842 9328; alex.macdonald@dowjones.com

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