Anglo. No RESERVES. 37-years. https://finance.yahoo.com/sec-filing/NAK/0001654954-24-014498_1164771/?nn=1
"The Group is in the process of exploring and evaluating the Pebble Project and has not yet determined whether the Pebble Project contains mineral reserves that are economically recoverable. The Group’s continuing operations and the underlying value and recoverability of the amounts shown for the Group’s mineral property interests is entirely dependent upon the existence of economically recoverable mineral reserves; the ability of the Group to obtain financing to complete the exploration and development of the Pebble Project; the Group obtaining the necessary permits to mine; and future profitable production or proceeds from the disposition of the Pebble Project.”
Anglo spent ~$520 million and determined the resource was uneconomic knowing open pitting the entire resource or just underground made no economic sense. The low-grade copper equivalent, excessive CAPEX, horrendous operational and post cost water treatment liability in perpetuity makes the resource unattractive and uneconomic.
cominco,teck, mitsubishi, rio, anglo, first quantum, barrick, bhp