National Fisherman


Anglo American, one of the key backers of the controversial Pebble mine in Alaska's Bristol Bay region, announced Monday that it is withdrawing from the Pebble Partnership -- and will take a $300 million hit for doing so. The London-based Anglo American has a 50 percent share of the Pebble venture, with Northern Dynasty Minerals out of Vancouver, Canada controlling the other half. The company said that Northern Dynasty will assume sole responsibility for the project.
 
In a statement, Anglo American CEO Mark Cutifani said that the company was seeking other investment opportunities.
 
"Despite our belief that Pebble is a deposit of rare magnitude and quality, we have taken the decision to withdraw following a thorough assessment of Anglo American’s extensive pipeline of long-dated project options," Cutifani said. "Our focus has been to prioritize capital to projects with the highest value and lowest risks within our portfolio, and reduce the capital required to sustain such projects during the pre-approval phases of development as part of a more effective, value-driven capital allocation model."
 
Read the full story at the Alaska Dispatch>>

Inside the Industry

The New England Fishery Management Council recently elected Dr. John F. Quinn of Massachusetts and E. F. “Terry” Stockwell III of Maine to serve respectively as chairman and vice chairman in the year ahead. The two have led the Council since 2014 but reversed roles this year. 

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Vigor will debut an affordable 142-foot freezer longliner designed specifically for North Pacific fishing at the 2016 Pacific Marine Expo in Seattle.

 

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