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Diamond Point Acquisition

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In early April, BBNC completed an investment in the Diamond Point Quarry on the west side of Cook Inlet near Iliamna Bay and Cottonwood Bay, due west of Homer. BBNC, through subsidiary Bristol Bay Resource Investments, LLC, (BBRI) is now a minority owner in Diamond Point, LLC, alongside Iliaska Environmental, LLC, a subsidiary of Igiugig Village Council (IVC). BBNC’s Land Department will oversee BBRI’s involvement in the quarry operations.

“This is an investment that will benefit our shareholders and Alaska for many years to come. It is a win-win for BBNC and Igiugig Village Council,” summed up BBNC President and CEO Jason Metrokin. “Diamond Point is an opportunity to provide shareholders with good jobs that are close to home.”

“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 has a large volume of armor rock that can be used in construction projects in the Cook Inlet region, throughout the Alaska Peninsula, and potentially on projects elsewhere in Bristol Bay. Iliaska Environmental has been working to develop the quarry site. With BBNC’s investment, Diamond Point is now positioned to blast and sell rock this year.

Anyone with questions about Diamond Point can contact BBNC’s Natural Resource Manager Russell Phelps at rphelps@bbnc.net.