BBNC, Igiugig invest in hard rock quarry

Bristol Bay Resource Investments LLC, a wholly owned subsidiary of Bristol Bay Native Corp., has acquired 15 percent ownership in Diamond Point LLC and its main asset, Diamond Point Quarry, on the west side of Cook Inlet, due west of Homer.

Iliaska Environmental LLC, a wholly owned subsidiary of Iguigig Village Council, owns the other 85 percent of Diamond Point. The quarry itself is believed to contain 30 million to 40 million cubic yards of high-quality hard rock. Given its location on Cook Inlet tidewater, IVC and BBNC believe the quarry offers a promising source of rock material for infrastructure projects in Anchorage, Kodiak and the Alaska Peninsula.

Further tests of the rock material in the quarry are to be completed this spring and the material will be ready to sell by summer.

“We’re expecting jobs and economic development for Alaska,” said Jason Metrokin, president and chief executive officer of BBNC. “This is an investment that will benefit our shareholders and Alaska as a whole for many years to come.”

“We are excited for the potential opportunities this partnership can provide for our region,” said Christina Salmon-Bringhurst, a member of the IVC council and environmental manager of Iliaska.

The subsidiary, which was formed in 2006 specializes in consultation and remediation of contaminated sites. Its services include environmental assessment and wetlands delineation, surveying, equipment operation and maintenance, and construction management.