VANCOUVER, April 9 /CNW/ - 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.
This clearly demonstrates we will meet our commitments, and we are looking
forward to the next round of applications and grants later this year."
In total, some 50 non-profit community organizations in southwest Alaska
applied for Pebble Fund grants in 2009 for projects related to community
development, education, energy and fisheries.
