Pebble Limited Partnership (PLP) is the developer of the proposed mine project. Formed in 2007, the PLP is a U.S.-registered company based in Anchorage, Alaska. It was a 50-50 partnership between global mining company Anglo American plc and Northern Dynasty Minerals Limited of Canada. In September 2013, Anglo-American announced its decision to withdraw from the project within 60 days. Mining company Rio Tinto held 19 percent of Northern Dynasty shares and was by extension also invested in the Pebble project. However, in April 2014, Rio Tinto donated its shares to Bristol Bay Native Corporation Education Foundation (which subsequently sold its shares) and the Alaska Community Foundation.

Northern Dynasty Minerals is currently 100% owner of the Pebble deposit.

In December 2017, First Quantum Minerals Ltd. announced it had signed a framework agreement with Northern Dynasty Minerals to provide $150 million toward permitting over a four year period, after which it would consider buying a 50% stake in Pebble Limited Partnership. The “Option Agreement” detailing the terms is anticipated to be signed at the beginning of the 2nd quarter 2018, after Northern Dynasty Minerals meets certain criteria set by First Quantum Minerals, including gaining regulatory approvals.