Rio Tinto officials have announced plans to begin a strategic review of Northern Dynasty Minerals Ltd., the 100% owner of the Pebble Project, including a possible divestment of shares. Rio Tinto, through QIT-Fer et Titane (a Rio Tinto subsidiary), owns more a little more than 19% of issued and outstanding shares.
Pebble is an undeveloped copper mine located in Bristol Bay, western Alaska. Rio will consider the Pebble Project’s fit with investment in and operation of long life and expandable assets, alongside its copper business. This is focused on four producing assets, Kennecott Utah Copper, Mongolia’s Oyu Tolgoi and interests in Escondida and Grasberg, with development projects La Granja in Peru and Resolution in Arizona.