Anglo American Exits Pebble Mine Project In Alaska

Law360, New York (September 16, 2013, 3:17 PM EDT) -- British mining giant Anglo American PLC has pulled out of the beleaguered Pebble copper and gold project in Alaska, it said Monday, leaving Northern Dynasty Minerals Ltd. as the project's sole owner facing stiff environmental challenges.

Anglo American said it has withdrawn from the Pebble LP, a 50-50 venture between the British firm and Northern Dynasty that was formed in 2007. The firm said it would incur a $300 million impairment charge — a term for writing off worthless goodwill — at the end of 2013....
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