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Bristol Bay Native Corporation partners with Igiugig Village Council to invest in Diamond Point Quarry 

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FOR IMMEDIATE RELEASE
April 9, 2020

CONTACT:
Dan Cheyette, Vice President, Lands and Natural Resources
(907) 278-3602 or dcheyette@bbnc.net

Bristol Bay Native Corporation partners with Igiugig Village Council to invest in Diamond Point Quarry

Anchorage, AK– Last week, Bristol Bay Resource Investments, LLC (BBRI), a wholly-owned subsidiary of Bristol Bay Native Corporation (BBNC), acquired a 15% ownership interest in Diamond Point, LLC and its main asset, Diamond Point Quarry.

Iliaska Environmental, LLC, a wholly owned subsidiary of Igiugig Village Council (IVC), owns the remaining 85% of Diamond Point, LLC. The quarry is located on the west side of Cook Inlet due west of Homer.

“When business partners are aligned in economic mission and geography, opportunities and discussions can quickly lead to positive partnerships,” said Iliaska Environmental Manager and IVC Council Member Christina Salmon-Bringhurst. “We are excited for the potential opportunities this partnership can provide for our region.”

Diamond Point Quarry is believed to contain 30-40 million cubic yards of high-quality hard rock. Given the location of the quarry on Cook Inlet tidewater, IVC and BBNC believe Diamond Point offers a promising source of rock material for infrastructure projects in Anchorage, Kodiak and the Alaska Peninsula.

“We’re expecting jobs and economic development for Alaska,” summed up BBNC President and CEO Jason Metrokin about the opportunity. “This is an investment that will benefit our shareholders and Alaska as a whole for many years to come.”

Diamond Point, LLC will complete further tests of the rock material in the quarry this spring and will be ready to sell material this summer.

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About Iliaska Environmental and IVC: Iliaska Environmental LLC was formed in 2006 and specializes in the consultation and remediation of contaminated sites. The Company’s services include environmental assessment and wetlands delineation, surveying, equipment operation and maintenance, and construction management. Igiugig is part of the Lake and Peninsula Borough, and the Lake and Peninsula School District. The Igiugig Village Council, which is also known as the Tribal Council, is responsible for handling the governmental activities of the Village in addition to maintaining and overseeing the Village’s general well-being and continued existence.

About Bristol Bay Native Corporation: Bristol Bay Native Corporation (BBNC) is a responsible Alaska Native corporation dedicated to the mission of “Enriching Our Native Way of Life.” Established through the Alaska Native Claims Settlement Act of 1971, BBNC works to protect the land in Bristol Bay, celebrate the legacy of its people, and enhance the lives of its shareholders. Learn more at www.bbnc.net.