Pebble Partnership CEO Tom Collier today announced that the company has created the Pebble Performance Dividend (PPD) to distribute a percentage of the revenue generated from the operation of a mine at Pebble to year-round residents of Bristol Bay.
“When we rolled out our new, smaller mine plan in 2017, I made a commitment to find a way to share the opportunity Pebble represents with the residents of Bristol Bay. While not everyone will want to work at the mine, this ensures a direct way for everyone to participate. Whether a resident supports the project, opposes it, or is neutral, anyone who is a year-round resident can participate,” Collier said. “However, year-round residents who want to share in this opportunity must register their interest.”
PLP created a web portal for Bristol Bay residents to register and learn more about the opportunity – www.pebbledividend.com . Once fully operational and profitable, the PPD will distribute 3% of the net profits from the mine to registered Bristol Bay residents.
As the first several years of development will not yield profits, PLP will ensure a minimum distribution by contributing $3 million dollars annually for distribution to all registered participants. Thus, if 3,000 residents register the PPD will distribute $1000 dollars to qualified participants once construction begins. Residency, governance and distribution will be overseen by an advisory board comprised of well-known Alaskans John Shively and Willie Hensley along with residents from the region.
All Bristol Bay residents who register via the web portal before July 31st will be eligible for a drawing for an annual early Pebble Performance Dividend beginning this year and payable through the start of construction. Five early dividend winners will be chosen from the group of eligible participants registered by July 31st. The web portal will remain open for registration until August 31st.
“Developing a mine at Pebble will provide jobs, economic activity, local tax revenue and infrastructure. Today we are adding one more way residents of the region can directly benefit from Pebble via our revenue sharing plan,” said Collier.
Collier further noted that federal permitting is nearing conclusion with an Environmental Impact Statement and Record of Decision from the U.S. Army Corps of Engineers expected this summer.
3201 C Street, Suite 505 Anchorage AK 99503 907-339-2600 phone 1-877-2600 Toll Free 907-339-2601 Fax www.pebblepartnership.com