EditorsJun 09, 2026
Q&A: Al Cook on the Lab-Grown ‘Bubble,’ Dwindling Diamond Supply The De Beers Group CEO also discussed tariffs, Desert Diamonds, and the pending sale of De Beers in an interview with Michelle Graff.
Policies & IssuesApr 07, 2014
Rio Tinto pulls out of Pebble mine project
Yet another miner is un-staking its claim from the proposed Pebble mine in Alaska, leaving the sole owner of the project to hunt for new partners.
This photo provided by the Pebble Ltd. Partnership shows a drill rig on the site of the proposed Pebble mine in Alaska. The partnership is 100 percent owned by Northern Dynasty Minerals Ltd.
London--Yet another miner is un-staking its claim from the proposed Pebble mine in Alaska, leaving the sole owner of the project to hunt for new partners.
Rio Tinto announced Monday that it was dividing its 19.1 percent stake in Northern Dynasty Minerals Ltd. between two charities in Alaska.
Following a review that it began late last year, the mining company concluded that “the Pebble Project does not fit with Rio Tinto’s strategy.”
“Rio Tinto has long and historic ties to Alaska and we continue to see Alaska as an attractive location for potential future investment,” Rio Tinto Copper Chief Executive Jean-Sebastien Jacques said in a company statement. “By giving our shares to two respected Alaskan charities, we are ensuring that Alaskans will have a say in Pebble’s future development and that any economic benefit supports Alaska’s ability to attract investment that creates jobs.”
The London-based miner’s stake in Northern Dynasty will go to the Alaska Community Foundation, which funds educational and vocational training in the state, and the Bristol Bay Native Corporation Education Foundation, which supports educational and cultural programs around Bristol Bay.
RELATED CONTENT: Anglo withdraws from Pebble mine project
Rio Tinto’s exit follows Anglo American’s decision to withdraw from the project in September, and leaves Northern Dynasty Minerals searching for a new mining partner.
A spokesman for Vancouver, B.C.-based Northern Dynasty said the company already was looking for a new partner prior to Monday’s announcement for Rio Tinto. “We remain optimistic as we have had, and continue to have, positive discussions with interested companies,” the company said.
Northern Dynasty acknowledged that it needs one or more major partners to move forward with the Pebble Mine, and, as it has said publicly before, it expects additional major mining companies to come on board once it secures permits for the project.
Proposed for construction near the Bristol Bay watershed, the Pebble mine would be North America’s largest open-pit copper and gold mine and, proponents said, would bring many much-needed jobs to that area of Alaska.
Opponents, however, which include many native Alaskan and environmental groups, worry about the potential environmental impact of mine on the ecosystem of Bristol Bay, which is home to the world’s largest wild sockeye salmon fishery.
Earthworks, a Washington-based environmental group that has been one of the main opponents of Pebble, said Rio Tinto’s divestment from the project “may not be the
final nail in the coffin (for the mine), but it’s surely one of the last.”
RELATED CONTENT: Pebble mine plans on hold after EPA action
Prior to Monday’s announcement from Rio Tinto, word came from the Environmental Protection Agency last month that it was invoking its authority under the Clean Water Act to assess Pebble’s impact on the Bristol Bay watershed, placing the project in indefinite limbo.
“There is currently no major funder backing the Pebble mine proposal,” Earthworks said. “Perhaps more importantly, there is now no mining company behind Pebble that has actually mined anything.”
In response, Northern Dynasty Minerals said that it is affiliated with Hunter Dickinson, which has “taken several mining projects into production.”
More on Policies & Issues
The Latest
MajorsJun 09, 2026
Wilkerson's Russ Whitehouse RetiresThe industry veteran is bringing his 56-year run in the fine jewelry sector to an end.
Events & AwardsJun 09, 2026
Pride Month Panel to Highlight LGBTQ+ Jewelry VoicesThe panel discussion will feature LGBTQ+ leaders across the jewelry, luxury, and creative industries.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
CollectionsJun 09, 2026
Marie Lichtenberg’s New Capsule Collection Is a Smash, LiterallyInspired by a locket that got run over, the “Smash” capsule collection reimagines the shape of Lichtenberg’s signature style.
Weekly QuizJun 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsJun 09, 2026
Frederick Goldman Names Director of Sales for SoutheastThe company has promoted Katherine Whitacre to the role.
MajorsJun 08, 2026
Stuller Expands Selection of Lab-Grown Diamonds, Demi-Fine JewelryThe jewelry manufacturer has added Taylor Swift-esque diamond shapes, and more silver, gold vermeil, and gold-plated jewelry.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
SourcingJun 08, 2026
Sally Morrison to Depart De Beers This Summer Morrison has been marketing diamonds on and off since the early 2000s and said she is leaving to “pursue new projects.”
TrendsJun 08, 2026
Amanda’s Style File: June’s Birthstone TrioThose born in June can celebrate with pearl, alexandrite, and moonstone jewelry.
TechnologyJun 08, 2026
Overnight Mountings Launches Ring Builder PlatformThe platform allows retailers to guide clients through a customizable engagement ring buying experience in a branded interface.
IndependentsJun 05, 2026
Pennsylvania Jewelry Store To Close After 79 YearsJim Springer, owner of Dunkelberger’s Fine Jewelry, is heading into retirement.
SurveysJun 05, 2026
Consumers to Cut Back on Spending Amid Rising Prices, Survey Shows When conducting its May consumer confidence survey, The Conference Board asked extra questions about consumers’ budgeting strategies.
CollectionsJun 05, 2026
Rebel Jewelry’s Charm Symbolizes Perseverance for Pride MonthThe “Tunnel” charm, our Piece of the Week, celebrates Pride Month with its design inspired by hope and the light at the end of the tunnel.
SourcingJun 05, 2026
State of Diamonds: The Way Forward for Natural DiamondsThe jewelry industry is reassessing its positioning as Gen Z reshapes the retail landscape and lab grown continues to gain market share.
AuctionsJun 04, 2026
Treasures from Maurice Tempelsman’s ‘Marvelous’ Life Head to AuctionUp for auction at Sotheby’s, the collection of Tempelsman’s personal effects includes a Cartier Tank watch Jackie O. gifted him.
CollectionsJun 04, 2026
Buddha Mama to Spend the Summer in AspenThe Miami-based fine jewelry brand will host its first summer residency in the Colorado mountain town from June 5 to Aug. 23.
MajorsJun 04, 2026
AGS Honors Late Peter Yantzer, Holds Time Capsule CeremonyThe organization also announced its international board of directors for the 2026-2027 term.
MajorsJun 04, 2026
Neiman Marcus’ Downtown Dallas Store to Close in SeptemberSaks Global confirmed the closure this week, spelling the end for a store that’s been part of downtown Dallas for more than 100 years.
ColumnistsJun 03, 2026
Peter Smith: When Top Talent Leaves and What It Says About YouSmith discusses how managers should handle a top performer's exit, warning that a poor response could have a lasting impact.
GradingJun 03, 2026
GIA’s Tracr Investment Is First Step Toward Industry-Owned PlatformThe Gemological Institute of America is now a 30 percent stakeholder in Tracr, the De Beers-backed blockchain for diamonds.
WatchesJun 03, 2026
The 1916 Company Taking Pre-Owned Rolexes on the Road, AgainThe retailer is bringing Rolex Certified Pre-Owned watches to five U.S. cities in 2026 for collectors to see, try on, and purchase.
IndependentsJun 03, 2026
Jessica Alba Is the New Face of Gabriel & Co.The actress and entrepreneur stars in the jeweler’s new campaign that celebrates life’s quiet moments.
TrendsJun 03, 2026
State of Design: Only the Innovative Will SurviveThe price of gold has risen, affecting the number of pieces designers make, the materials they use, and how they position themselves.
FinancialsJun 02, 2026
Signet Jewelers’ Q1 Sales Up 2% As It Focuses on ‘Core Four’ The jewelry retailer is zeroing in on Zales, Jared, Kay Jewelers, and Blue Nile as it looks to create unique brand identities for each.
SourcingJun 02, 2026
Leader Appointed for Botswana’s Diamonds for Development Fund Dr. Akinwumi Adesina, a development economist, will head the fund created to help Botswana diversify its economy.
WatchesJun 02, 2026
Watch Industry Veteran James Marks Joins Sotheby’sSotheby’s has appointed the former Phillips executive as its global head of private sales and retail in its watches division.
