Alaska Peninsula Corporation (APC) would like to respond to shareholder inquiries on Facebook about the resource development activities of APC and subsidiaries.
First, the board takes no position on the Pebble project until it can make an informed decision about whether or not Pebble Limited Partnership can construct and operate a mine without harm to the environment. We do not anticipate that we will be in a position to make such an informed decision for a number of years. The Board does, however, support due process. We support the long-established process of allowing developers, including Pebble, to submit all required plans and information necessary to meet Federal, State and local regulatory requirements. We believe in transparency in the public review and comment period.
Second, the APC board has passed a resolution supporting sustainable resource development in Bristol Bay. Sustainable resource development to APC means that a proposed project provides economic benefits to APC and its shareholders without harming the environment. The environment includes the air, water, land and critical habitat. Sustainable resource development requires community support and requires that proponents of resource development work with our communities assist them with infrastructure development and fully disclose the developer’s plans, including both the risks and the benefits of the proposed resource development. APC has and will continue to explore the benefits and risks of any resource development proposal, including the Pebble project, in order to address that central question: Does the proposed development provide sustainable economic benefits to APC? Because Pebble has not yet even developed a feasibility study, APC has not and will not take a position in support of or against Pebble.
This is not to say, though, that APC will not continue to work with Pebble in Pebble’s efforts to develop plans that meet APC’s criteria for sustainable resource development. Our efforts to date include significant contract work with Pebble’s scientific and community information efforts. Those efforts have resulted in the profitability of two of our subsidiaries and our subsidiaries’ growing of expertise in diverse fields of hydrology, environmental science and community outreach. Of immediate concern to APC’s shareholders, our subsidiaries have returned capital and profits to APC, which we have now been able to return to our shareholders. In addition, we are developing employment opportunities for our shareholders as well as for our villages.
Mary Jane Nielsen, President & CEO