December 18, 2017 / 11:38 AM / 6 months ago

First Quantum buys option for stake in Northern Dynasty project

Dec 18 (Reuters) - Northern Dynasty Minerals , owner of the Pebble copper-gold project in Alaska, said rival First Quantum Minerals acquired the option to buy half of the project for $1.50 billion.

Under the agreement, First Quantum can make an option payment of $150 million over four years to buy the right to earn a 50 percent interest in the Pebble Limited Partnership for $1.35 billion. (Reporting by John Benny in Bengaluru; Editing by Maju Samuel)

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