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Rio Tinto will gift its 19.1% shareholding in Northern Dynasty Minerals, owner of the Pebble project, to two local Alaskan charitable foundations. The decision follows the strategic review announced last year of Rio Tinto’s interest in Northern Dynasty which concluded the Pebble project does not fit with Rio Tinto’s strategy. The shares in Northern Dynasty will be divided equally between the Alaska Community Foundation to fund educational and vocational training and the Bristol Bay Native Corp Education Foundation, which supports educational and cultural programs in the region.

Read more at: http://www.im-mining.com/2014/04/11/rio-tinto-gifts-stake-in-northern-dynasty-minerals-to-alaskan-charities/