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Rio Tinto CEO: No Interest In Pebble Project As An Open Pit Mine

LONDON -(Dow Jones)- Rio Tinto PLC (RIO) has no interest in seeing the Alaskan copper and gold Pebble project developed as an open pit mine given the concerns about its environmental impact, although it thinks it would be worth exploring the project as an underground mine. "I'm interested in looking at it from an underground perspective; I have no interest in looking at it from an overground perspective," Rio Tinto's CEO Tom Albanese told his shareholders at the company's annual general meeting here. "An open pit mine is not the way to go...in my opinion," he added. The Pebble project, located in southwestern Alaska, is one of the world's largest undeveloped gold and copper deposits and has faced protests from activists who allege it could harm an important spawning habitat for wild sockeye salmon, as well as damage communities around Bristol Bay that depend on fishing. Rio Tinto owns an indirect stake in the project through a 19.16% stake in Canada-based Northern Dynasty Minerals Ltd., which owns the project jointly and in equal measure with U.K.-listed Anglo American PLC (AAL.LN). The project 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. -By Alex MacDonald, Dow Jones Newswires; +44 (0)20 7842 9328; alex.macdonald@dowjones.com

Stock News for Northern Dynasty Mnl (NAK)
DateTimeHeadline
11/16/201606:03:29Report of Foreign Issuer (6-k)
10/28/201606:00:00/R E P E A T -- Northern Dynasty: Pebble Partnership, EPA Agree...
10/28/201606:00:00/R E P E A T -- Northern Dynasty: Pebble Partnership, EPA Agree...
10/27/201620:39:00Northern Dynasty: Pebble Partnership, EPA Agree to Mediation...
10/27/201620:39:00Northern Dynasty: Pebble Partnership, EPA Agree to Mediation...
10/04/201616:13:15Report of Foreign Issuer (6-k)
09/29/201617:37:00Northern Dynasty/Pebble Partnership Cap Legal Costs to Conclude...
09/29/201617:37:00Northern Dynasty/Pebble Partnership Cap Legal Costs to Conclude...
08/15/201617:27:00Report of Foreign Issuer (6-k)
08/05/201610:27:39Amended Statement of Ownership (sc 13g/a)
07/15/201606:03:06Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
07/13/201606:03:08Small Company Offering and Sale of Securities Without Registration...
07/08/201611:00:16Statement of Ownership (sc 13g)
07/05/201617:44:00Northern Dynasty Closes $2 Million Private Placement
07/05/201617:44:00Northern Dynasty Closes $2 Million Private Placement
06/22/201614:29:13Report of Foreign Issuer (6-k)
06/20/201619:11:00Northern Dynasty Reports Annual General Meeting Results
06/20/201619:11:00Northern Dynasty Reports Annual General Meeting Results
06/14/201606:02:15Report of Foreign Issuer (6-k)
06/10/201611:58:01Report of Foreign Issuer (6-k)

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