VANCOUVER, April 9 /PRNewswire-FirstCall/ - Northern Dynasty Minerals Ltd. (TSX: NDM; NYSE Amex: NAK) announces that the Pebble Fund for Sustainable Bristol Bay Fisheries and Communities, established by the Pebble Limited Partnership ('PLP' or the 'Pebble Partnership') last year, will dispense its first $1 million in grants to 33 successful applicants this spring.
The Pebble Fund was established in February 2008 as a five-year, $5 million commitment to support community-led initiatives that enhance the health of Bristol Bay fisheries and contribute to a sustainable economic future in southwest Alaska. Administered by the non-profit Alaska Community Foundation, Pebble Fund grant criteria and awards were determined by an independent advisory board of citizens representing communities from throughout the Bristol Bay region.
'Pebble is a globally significant copper-gold-molybdenum deposit whose development has the potential to provide employment and business opportunities for generations of Alaskans, as well as other social and economic benefits for the communities of Bristol Bay,' said Northern Dynasty President & CEO Ron Thiessen. 'Although the project is still several years away from permitting and operations, the Pebble Partnership is committed to ensuring that local communities benefit at every stage of project development.
'That's what the Pebble Fund and today's announcement is all about; ensuring that Pebble provides a more sustainable future for the communities of southwest Alaska now and in the future.'
Based in Anchorage AK, the Pebble Partnership was established in July 2007 as a 50:50 partnership between a wholly-owned affiliate of Northern Dynasty and a wholly-owned subsidiary of Anglo American plc. To retain its 50% interest, Anglo American is required to continue its staged investment of $1.425 billion to advance the Pebble Project toward permitting and operations.
'One of our core principles is to help build sustainable communities and that is why we started the Pebble Fund,' said Pebble Partnership CEO John Shively. 'I am pleased and encouraged that the Pebble Fund board was able to meet a diverse cross section of community needs in the Bristol Bay region.
