ANCHORAGE - The Bristol Bay Native Corp.'s Education Foundation is no longer an investor in the contentious Pebble Mine project, after deciding to sell stock which it had received as a gift.
On April 5, the foundation received nine million shares as a donation, when Rio Tinto parted ways with Northern Dynasty Minerals, owner of the Pebble Partnership. Foundation officials announced on Friday that they have sold those shares, generating $6.48 million. The foundation says the money will be deposited into an endowment and used to support scholarship programs.
While BBNC has been against the Pebble project from the beginning, foundation officials say they've never taken a position on Pebble.