Download Economic Impact and Regulatory Overreach

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The Pebble Prospect
Economic Impact and Regulatory Overreach
Conference of Western Attorneys General
Colorado Springs, Colorado
July 24, 2013
Prospect Location
Scope
Matters
Pebble
Bristol Bay Region
39, 184 sq. miles
State of Virginia
42,774 sq. miles
Nushagak River
12,735 mi2 = Maryland
Kvichak River
8,017 mi2 = New Jersey
New
Jersey
Maryland
Nushagak River
•Virginia
12,735 mi2 =
Maryland
Kvichak River
• 8,017 mi2 =
New Jersey
The Importance of Copper
The Pebble Project
Copper: THE Mineral for Green Technologies
• Twice as much copper is used in a hybrid car
compared to a conventional car - 78lbs vs. 42lbs
• 3MW wind turbine contains nearly 5 tons of copper
• Solar panels can be made of up to 60% copper
• Average green home contains 439+ lbs. of copper
Advanced Exploration
Environment
Engineering
Technical
Geology
Socioeconomic
Permitting
Agencies involved in permitting large hard rock mine in Alaska:
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AK Department of Natural Resources
AK Department of Environmental Conservation
AK Department of Fish and Game
AK Department of Transportation & Public Facilities
AK Department of Commerce, Community and Economic Development
AK Department of Law
AK Department of Public Safety
Delong Mountain Regional Transportation System
Borough Land Use
US Environmental Protection Agency
US Army Corps of Engineers
US Fish and Wildlife Service
US National Marine Fisheries Service
US Coast Guard
Federal Aviation Administration
Mine Safety Health Administration
Red Dog Mine
Bureau of Alcohol, Tobacco, Firearms
Federal Communication Commission
Economic Study – U.S.
National Economic
Benefits
Jobs
(indirect & induced)
GDP (annual)
Government Revenue
from Lower 48 Sources
(annual: federal, state,
local)
Federal Revenue from
Alaska (annual)
[1]
Construction
(Year 1-5)
Initial Production
Phase (Year 5-29)
Potential Subsequent
Development Phases
(Year 30+)
16,175
14,715
16,650
$1.6 billion
$2.4 - $2.7 billion
$3.7 - $3.9 billion
$323 million
$670 - $772 million
$1.2 - $1.25 billion
$54M
$164 - $218 million
$410 - $460 million
Indirect jobs are those supported in sectors providing supplies and services to the Pebble Project. Induced jobs are those supported in sectors benefitting from
the spending of Pebble direct and indirect employee wages.
[2] The IHS Global Insight study forecasts a range of GDP and government revenue impacts associated with future development of the Pebble Project based on
two different long-term metal commodity price forecasts.
Economic Study - AK
State Economic
Benefits
Jobs
(direct, indirect &
induced)
Construction
(Year 1-5)
Initial Production
Phase (Year 5-29)
Potential
Subsequent
Development
Phases (Year 30+)
4,725
2,890
2,750
$400 million
$1.1 - $1.4 billion
$2.1 - $2.4 billion
$27 million
$165 - $213 million
$351- 396 million
GSP (annual)
Government Revenue
(annual: state & local)
[1]
Indirect jobs are those supported in sectors providing supplies and services to the Pebble Project. Induced jobs are those supported in sectors benefitting from
the spending of Pebble direct and indirect employee wages.
[2] The IHS Global Insight study forecasts a range of GDP and government revenue impacts associated with future development of the Pebble Project based on
two different long-term metal commodity price forecasts.
EPA’s Bristol Bay Assessment
• Bristol Bay Assessment does not use
sound science
Heavily criticized by peer
reviewers
• Bristol Bay Assessment process was
not open and transparent
Stealth peer review
FACT vs. FICTION
Pebble Deposit
Peter D. Robertson
Senior Vice President for Corporate Affairs
The Pebble Partnership
202-629-3392
907-339-2696
Wireless Password: 9166703926