Alaska miners can breathe a sigh of relief as the Alaska Supreme Court last week dismissed the more controversial of two clean water ballot measures aimed at blocking the Pebble copper and gold project in Alaska.

Nevertheless, oral arguments were scheduled for today on Ballot Measure 4, a less stringent version of Clean 1, which has been overturned. Ballot Measure 4, which applies only to new and future hardrock metal mines such as Pebble, is scheduled to appear on the statewide election ballot in August.

The state's Lt. Gov. Sean Parnell had initially denied the application submitted by three Bristol Bay residents-John H. Holman, Jack G. Hobson and Luki Akelkok-- who are worried about the potential development of the massive Pebble project.

The initiative aimed to prevent Alaska's waters from being adversely impacted by new large-scale mining projects. It defined large-scale operations as any mine that disturbs more than 640 acres of land or water. This would have included Pebble and the proposed Donlin Creek copper-gold project and it would have potentially impacted all of Alaska's large mines if they modify their existing permits, or expand their operation boundaries.

Parnell had sought a legal opinion on the initiative because Alaska law says a ballot initiative in the state may not include subjects which are prohibited, including appropriation of state assets to designate the uses of public land and water in certain mining operations.

The Lt. Governor had also asserted that only the legislature can allocate a resource for a particular use. However, a lower court judge had ruled the people of Alaska, who had signed the petition, are not a branch of the government and don't impede the right of the legislature.

However, even the proponents of the ballot measure had apparently had a change of heart, asking Parnell to pull Clean Water 1 from the November election ballot. However, Parnell said he would wait for a Supreme Court ruling.

Lt. Governor Parnell approved the second initiative, which limits the discharge or release of certain toxic pollutants on the lands and water of the state, and by establishing management standards and other regulatory prescriptions to ensure that Alaska's waterways, streams, rivers and lakes, and, Tanzanite One Ltd, the only miner of the rare blue gem, important public asset, are not adversely impacted by new large scale metallic mineral mining operations and that such prospective operations are appropriately regulated to assure no adverse effects on the state's clean waters.

The measure does not apply to existing large scale metallic mineral mining operations that have received all required federal, state and local permits, authorizations, licenses, and approvals on or before the effective date of the enactment of the measure or to future operations of existing facilities at these sites.

The Pebble project is believed to be one of the largest copper and gold deposits in the world. Estimated copper and gold reserves value the minerals at between $345 billion and $500 billion.