First Quantum Signs Option to Invest in Northern Dynasty Project

Northern Dynasty Minerals Ltd. signed a framework agreement with First Quantum Minerals Ltd. that may see the two companies share the cost to develop the contentious Pebble copper and gold deposit in Alaska.

Under the terms of the deal, an affiliate of First Quantum could pay $150 million in four equal installments to obtain a four-year option to gain the right to invest in the project, First Quantum said Monday in a statement. The option would give it the right to ultimately earn a 50 percent interest in Pebble by investing an additional $1.35 billion.

The option period may ...