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T h i s p r e s e n t a t i o n i n c l u d e s c e r t a i n s t a t e m e n t s t h a t m a y b e d e e m e d " f o r w a r d - l o o k i n g s t a t e m e n t s . ” A l l s t a t e m e n t s i n t h i s p r e s e n t a t i o n , o t h e r t h a n s t a t e m e n t s o f h i s t o r i c a l f a c t s , t h a t a d d r e s s e x p l o r a t i o n
d r i l l i n g , e x p l o i t a t i o n a c t i v i t i e s a n d e v e n t s o r d e v e l o p m e n t s t h a t t h e C o m p a n y e x p e c t s a r e f o r w a r d - l o o k i n g s t a t e m e n t s .
A l t h o u g h t h e C o m p a n y b e l i e v e s t h e e x p e c t a t i o n s e x p r e s s e d i n i t s f o r w a r d - l o o k i n g s t a t e m e n t s a r e b a s e d o n r e a s o n a b l e a s s u m p t i o n s , s u c h s t a t e m e n t s s h o u l d n o t b e i n a n y w a y c o n s t r u e d a s g u a r a n t e e s o f t h e
u l t i m a t e s i ze , q u a l i t y o r c o m m e r c i a l f e a s i b i l i t y o f t h e P e b b l e P r o j e c t o r o f t h e C o m p a n y ' s f u t u r e p e r f o r m a n c e . A s s u m p t i o n s u s e d b y t h e C o m p a n y t o d e v e l o p f o r w a r d - l o o k i n g s t a t e m e n t s i n c l u d e t h e
f o l l o w i n g : t h e P e b b l e P r o j e c t w i l l o b t a i n a l l r e q u i r e d e n v i r o n m e n t a l a n d o t h e r p e r m i t s a n d a l l l a n d u s e a n d o t h e r l i c e n s e s , s t u d i e s a n d d e v e l o p m e n t o f t h e P e b b l e P r o j e c t w i l l c o n t i n u e t o b e p o s i t i v e , a n d n o
g e o l o g i c a l o r t e c h n i c a l p r o b l e m s w i l l o c c u r .
T h e l i k e l i h o o d o f f u t u r e m i n i n g a t t h e P e b b l e P r o j e c t i s s u b j e c t t o a l a r g e n u m b e r o f r i s k s a n d w i l l r e q u i r e a c h i e v e m e n t o f a n u m b e r o f t e c h n i c a l , e c o n o m i c a n d l e g a l o b j e c t i v e s , i n c l u d i n g o b t a i n i n g n e c e s s a r y
m i n i n g a n d c o n s t r u c t i o n p e r m i t s , a p p r o v a l s , l i c e n s e s a n d t i t l e o n a t i m e l y b a s i s , d e l a y s d u e t o t h i r d p a r t y o p p o s i t i o n , c h a n g e s i n g o v e r n m e n t p o l i c i e s r e g a r d i n g m i n i n g a n d n a t u r a l r e s o u r c e e x p l o r a t i o n a n d
e x p l o i t a t i o n , t h e f i n a l o u t c o m e o f a n y l i t i g a t i o n , c o m p l e t i o n o f p r e - f e a s i b i l i t y a n d f i n a l f e a s i b i l i t y s t u d i e s , p r e p a r a t i o n o f a l l n e c e s s a r y e n g i n e e r i n g f o r s u r f a c e o r u n d e r g r o u n d m i n i n g a n d p r o c e s s i n g f a c i l i t i e s a s
w e l l a s r e c e i p t o f s i g n i f i c a n t a d d i t i o n a l f i n a n c i n g t o f u n d t h e s e o b j e c t i v e s a s w e l l a s f u n d i n g m i n e c o n s t r u c t i o n .
S u c h f u n d i n g m a y n o t b e a v a i l a b l e t o t h e C o m p a n y o n a c c e p t a b l e t e r m s o r o n a n y t e r m s a t a l l . T h e r e i s n o k n o w n o r e a t t h e P e b b l e P r o j e c t a n d t h e r e i s n o a s s u r a n c e t h a t t h e m i n e r a l i za t i o n a t t h e P e b b l e
P r o j e c t w i l l e v e r b e c l a s s i f i e d a s o r e . T h e n e e d f o r c o m p l i a n c e w i t h e x t e n s i v e e n v i r o n m e n t a l a n d s o c i o -e c o n o m i c r u l e s a n d p r a c t i c e s a n d t h e r e q u i r e m e n t f o r t h e C o m p a n y t o o b t a i n g o v e r n m e n t p e r m i t t i n g c a n
c a u s e a d e l a y o r e v e n a b a n d o n m e n t o f a m i n e r a l p r o j e c t .
T h e C o m p a n y i s a l s o s u b j e c t t o t h e s p e c i f i c r i s k s i n h e r e n t i n t h e m i n i n g b u s i n e s s a s w e l l a s g e n e r a l e c o n o m i c a n d b u s i n e s s c o n d i t i o n s . F o r m o r e i n f o r m a t i o n o n t h e C o m p a n y , I n v e s t o r s s h o u l d r e v i e w t h e
C o m p a n y ' s f i l i n g s w i t h t h e U n i t e d S t a t e s S e c u r i t i e s a n d E x c h a n g e C o m m i s s i o n a n d i t s h o m e j u r i s d i c t i o n f i l i n g s t h a t a r e a v a i l a b l e a t w w w . s e d a r . c o m .
C A U T I O N A R Y A N D F O R W A R D L O O K I N G S T A T E M E N T S
A CLEAR PATH FORWARD
PEBBLE FACTS1
Pebble is a copper mine.
The Pebble Deposit is on landowned by the state of Alaska.
THIS IS THE PEBBLE DEPOSIT
S O U R C E : N G E O G R A P H I C
7
FROM OPPOSITION PR
S O U R C E : R O B T K E T C H U M
8
S O U R C E : R O B T K E T C H U M
9
… w h i c h a r e n o w h e r e n e a r
t h e a c t u a l l o c a t i o n .
10
C H I K A M I N U K L A K E
1 2 0 M I L E S F R O M P E B B L E
S O U R C E : N A T I O N A L G E O G R A P H I C
11
W O O D T I K C H I K S T A T E P A R K
1 3 4 M I L E S F R O M P E B B L E
S O U R C E : R O B E R T K E T C H U M
12
8 5 M I L E S F R O M P E B B L E
S O U R C E : R O B E R T K E T C H U M
T W I N L A K E S
13
THIS IS OUR PLAN
Responsive with a smaller footprint20-year operationCompact footprint – out of Upper Talarik/KvichakNo cyanideNo waste rock pilesEnhanced environmental safeguards
Pebble 2019EPA 6.5
Footprint
Separate Tailings
Lined Pyritic TSF(temporary)
No Waste Rock Dumps
No Major UTC Facilities
NO CYANIDE
Pebble 2019
Footprint
Separate Tailings
Lined Pyritic TSF(temporary)
No Waste Rock Dumps
No Major UTC Facilities
NO CYANIDE
THE DRAFT EIS2
Part of NEPA, the Draft EIS was produced by the U.S. Army Corps of Engineers.
T h e “ D r a f t E n v i r o n m e n t a l I m p a c t
S t a t e m e n t ” p r o v i d e s a n e x p e r t ,
i n d e p e n d e n t , o b j e c t i v e r e v i e w a n d
s c i e n t i f i c e v a l u a t i o n o f P e b b l e .
“NEPA protects our health, our homes, and our environment… NEPA is
democratic to the core.”
Nondalton Tribal Council
Whose EIS?
Government to Government
• Newhalen Tribal Council• Aleknagik Traditional Council• Chignik Bay Tribal Council• Chignik Lagoon Village Council• Chignik Lake Traditional Council• Clarks Point Village Council• Cook Inlet Tribal Council• Curyung Tribal Council• Egegik Village Council• Ekuk Village Council• Ekwok Village Council• Igiugig Village Council• Iliamna Village Council• Ivanof Bay Tribal Council• King Salmon Tribal Council• Levelock Village Council• Manokotak Village Council
• Kokhanok Village Council• Naknek Village Council• Nanwalek IRA Council• Native Tribe of Kanatak• New Koliganek Village Council• New Stuyahok Traditional Council• Ninilchik Traditional Council• Nondalton Tribal Council• Pedro Bay Village Council• Pilot Point Tribal Council• Port Graham Tribal Council• Port Heiden Village Council• Portage Creek Village Council• Seldovia Village Council• Traditional Council of Togiak• Twin Hills Village Council• Ugashik Traditional Council• United Tribes of Bristol Bay
35 Bristol Bay & Cook Inlet Tribal Governments
EIS Schedule
Application
Scoping Period
Draft EIS
PUBLIC REVIEW
Final EIS
Record of Decision (ROD)
Dec. 2017
April – June 2018
February 2019
March 1 – July 1 2019
Est. Early 2020
Est. Mid 2020
Examples of large mining and other development projects that received major federal permits within about three years: Pogo Mine: In August 2000, Teck-Pogo Inc. applied for a Section 404 permit for a proposed underground cut-and-fill gold mine on State of Alaska-owned land in the Goodpaster River Valley. EPA, in close consultation with the USACE, published a Draft EIS in March 2003, then a Final EIS in Sept. 2003 – three years and a month after the application. Kensington Mine: In 2001, Coeur Mining redefined the scope for its development of an underground gold mine within the Tongass National Forest outside of Juneau. This necessitated a new NEPA review, which was completed three years later in December 2004.Red Dog Mine: EPA prepared the EIS for the expansion of the Red Dog Mine into the Aqqaluk deposit in northwest Alaska. The permitting process started in mid-2007 and the EIS was finished during Fall 2009, taking just over two years. USACE was a cooperating agency.Point Thomson: The USACE was the lead agency for the EIS for the development of ExxonMobil’s Point Thomson oil facility on the North Slope of Alaska. The EIS process began in late 2009 and the Final EIS was issued mid-2012, taking approximately two and a half years.ConocoPhillips GMT-1 Project: In 2013, ConocoPhillips moved forward with permitting of its proposed Greater Moose’s Tooth-1 oil and gas project in the National Petroleum Reserve-Alaska. BLM was the lead agency, and the USACE was a cooperating agency. The EIS process began in August 2013 and concluded by November 2014, taking just over a year.ConocoPhillips GMT-2 Project: ConocoPhillips began permitting the Greater Mooses-2 project in 2016. Like GMT-1, the GMT-2 project is located in the National Petroleum Reserve-Alaska, and the EIS was overseen by BLM with the USACE as a cooperating agency. The EIS process began during July 2016 and concluded just over two years later in September 2018.Hilcorp Liberty Project: Hilcorp is the operator of the Liberty oil and gas leases in the federal OCS off the North Slope of Alaska. The leases are overseen by BOEM. Hilcorp began permitting the Liberty project in 2015. BOEM started the EIS process in September 2015 and completed it three years later in August 2018.
Project Name Lead Agency DEIS Comment Period
Extension of Comment
Period
Length of DEIS (Excluding
Appendices)
Notes
ANWR Coastal Plain Oil and Gas Leasing
BLM 12/2018 45 days Yes30 days
392 pages NOA: 83 Fed. Reg. 67337 (Dec. 28, 2018)Extension: News Release Extension of Comment
Period (extended to March 13, 2018)
Tongass Timber Sale on POW Island
Forest Service 4/2018 45 days No 408 pages NOA: 83 Fed. Reg. 19758 (May 4, 2018)
ConocoPhillips GMT 2 BLM 3/2018 45 days Yes10 days
631 pages(SEIS)
NOA: 83 Fed. Reg. 13508 (March 29, 2018)Extension: News Release of Extension of Comment
Period (extended to May 17, 2018)
Oil Search Nanushuk Project Corps 9/2017 45 days Yes30 days
1,191 pages NOA: 82 Fed. Reg. 41621 (Sept. 1, 2017)Extension: Public Notice of Application for Permit
(extended to Nov. 14, 2017)
Hilcorp Liberty Project BOEM 7/2017 90 days Yes22 days
784 pages NOA: 82 Fed. Reg. 39453 (Aug. 18, 2017). Extension: News Release of Extension Comment
Period (extended to Dec. 8, 2017)
Alaska Stand Alone Pipeline Project
Corps 6/2017 45 days Yes15 days
1,822 pages(SEIS)
NOA: 82 Fed. Reg. 29859 (June 30, 2017)Extension: 82 Fed. Reg. 39424 (extended to Aug. 29,
2017)
Donlin Gold Corps & BLM 11/2015 155 days Yes31 days
3,144 pages NOA: 80 Fed. Reg. 74104 (Nov. 27, 2015) Extension: 81 Fed. Reg. 27442 (extended to May 31,
2016)
Chukchi Sea OCS Oil and Gas Lease Sale 193
BOEM 11/2014 45 days No 694 pages(2nd SEIS)
NOA: 79 Fed. Reg. 66401 (Nov. 7, 2014)
Bristol Bay Watershed Assessment
EPA 4/2013 32 days Yes6 days
618 pages(Revised version)
NOA: 78 Fed. Reg. 25266 (April 30, 2013)Extension: 78 Fed. Reg. 34093 (extended to June 6,
2013)
ConocoPhillips GMT1 BLM 2/2014 60 days No 480 pages NOA: 79 Fed. Reg. 9920 (Feb. 21, 2014) Exxon Mobile Corporation -
Point Thomson Corps 11/2011 45 days Yes
15 days1,506 pages NOA: 76 Fed. Reg. 70979 (Nov. 16, 2011)
Extension: Noted in 77 Fed. Reg. 44222
Point Mackenzie Railroad Expansion
Surface Transportation
Board
3/2010 56 days No 603 pages NOA: 75 Fed. Reg. 12594 (March 16, 2010)
Red Dog Aqqaluk Expansion EPA 12/2008 60 days No 464 pages NOA: 73 Fed. Reg. 74170 (Dec. 5, 2008)
PROTECTING WATER3
Released water will not just betreated. It will be strategically adjusted
to optimal conditions for fish life.
A sophisticated management plan will discharge water into all three nearby
streams to benefit fish habitat.(2.31)
According to the Draft EIS
There will be no downstream impacts from the pit in post closure.
(ES 41)
According to the Draft EIS
TAILINGS SAFETY4
The Tailings Storage Facility has been designed for maximum safety.
F e a t u r e s i n c l u d e a f l o w - t h r o u g h d e s i g n
t o p r e v e n t w a t e r b u i l d u p , a g r a d u a t e d
s l o p e a n d l o n g b e a c h a r e a , p l u s a n e w
b u t t r e s s f o r i m p r o v e d s a f e t y .
D e s i g n , c o n s t r u c t i o n , o p e r a t i o n s a n d
c l o s u r e w i l l b e o v e r s e e n a n d c e r t i f i e d
b y
t h e A l a s k a D a m S a f e t y P r o g r a m .
Pyritic tailings storagewill be fully lined.
The pyritic TSF will be completelyeliminated at closure.
Catastrophic failure isextremely unlikely.
(4.27.6)
According to the Draft EIS
There are no population level impactsfor fish from the tailings release
scenarios evaluated.(ES 71)
According to the Draft EIS
SUPPORTING SALMON5
W e ’ v e a l w a y s s a i d t h a t w e w o n ’ t
c o m p r o m i s e w h e n i t c o m e s t o
s u p p o r t i n g a n d p r o t e c t i n g s a l m o n .
We’ve done more than a decade of intensive environmental studies & invested more than $150 million.
Mine area escapement is low.
SOCKEYE ESCAPEMENT
UTC DrainageSFK DrainageNFK DrainageTOTAL
0.39%0.06%0.02%0.08%
Alaska’s mining operations have a solid environmental track record
C H I K A M I N U K L A K E
S O U R C E : A L A S K A S T O C K
FORT KNOX
C H I K A M I N U K L A K E
S O U R C E : A L A S K A S T O C K
GREENS CREEK
C H I K A M I N U K L A K E
S O U R C E : W I K I M E D I A
KENSINGTON
C H I K A M I N U K L A K E
S O U R C E : W I K I M E D I A
POGO MINE
C H I K A M I N U K L A K E
S O U R C E : A L A S K A S T O C K
RED DOG
The DEIS shows Pebble will not harm the Bristol Bay fishery.
Project will not reduce returning adult salmon to the Nushagak or
Kvichak River systems.(ES 54)
According to the Draft EIS
Impacts to fish and wildlife would not be expected to impact harvest levels
because there would be no decrease in resource and abundance.
(ES 31)
According to the Draft EIS
There will be no long term changeto the health of the Bristol Bay
and Cook Inlet fisheries.(ES 54)
According to the Draft EIS
Other salmon fisheries in Alaska co-exist with other
extraction industries.(ES 53)
According to the Draft EIS
WHO BENEFITS6
The benefits to the local people,and their economy and culture,
are substantial.
POTENTIAL REVENUE TO THELAKE & PENINSULA BOROUGH
$19M - $21M ANNUAL $377M - $420M OVER 20 YRS
L P B F Y 1 6 O p e r a t i n g B u d g e t = $ 6 . 4 M
Pebble is an asset and offerseconomic opportunity statewide.
$49M - $66M ANNUAL
$970M - $1.32B OVER 20 YRS
I n c l u d e s e s t i m a t e s o f m i n e r a l l i c e n s i n gt a x , c o r p o r a t e t a x , a n d s t a t e r o y a l t i e s .
POTENTIAL STATE REVENUE
Pebble means jobs.
~ 2 0 0 0 J O B S
A V E R A G E M I N I N G W A G E = $ 1 0 0 K +
JOBS FORALASKANS
Project benefits will be mostapparent in small, rural communities
closest to the mine site.(4.10-8)
According to the Draft EIS
Population level effects to fish and wildlife (for subsistence) would not be expected.
(4.9-4)
According to the Draft EIS
The overall economic and health benefits will be substantial.
(4.10-8)
According to the Draft EIS
A CLEAR PATH7
Alaska’s resource projectsalready co-exist with fishing.
(ES 53)
According to the Draft EIS
Pebble’s approach willuse industry best practices.
(ES 5)
According to the Draft EIS
Project benefits include increased revenue, employment, and education.
(4.10-8)
According to the Draft EIS
There will be no downstreamimpacts from the pit in post closure.
(ES 53)
According to the Draft EIS
There will be no long-term changeto the health of the Bristol Bay
and Cook Inlet fisheries.(ES 53)
According to the Draft EIS
A l a s k a k n o w s h o w t o d e v e l o p
r e s o u r c e s r e s p o n s i b l y .
The right mine. The right time.