Bristol Bay Native Corporation

ANCHORAGE, Alaska - Feb. 24, 2014 - PRLog -- BBNC or Bristol Bay Native Corporation is one of 13 regional corporations created under the passage of the Alaska Native Claims Settlement Act that happened in 1971. The Alaska Native Claims Settlement Act or the ANCSA was the formal and legal settlement of all aboriginal land claims to all Alaska Natives.

BBNC or Bristol Bay Native Corporation was incorporated in June 13 in 1972 in Alaska with 5,401 enrolled Alaska Native shareholders. In 1972, these 5,401 Alaska Native shareholders received 100 shares of stock from the BBNC. From 1972 to the present, it has its headquarters stationed in Anchorage in Alaska. Currently, Bristol Bay Native Corporation has a total of 7,800 Alaska Native shareholders and they are of Aleut, Alutiiq and Dena'ine descent. Also currently, Bristol Bay Native Corporation has 14 subsidiaries with specialties in the following:

·         Government services

·         Construction

·         Oil field

·         Distribution of petrol products

·         Administration

Just this 2013 in October, Bristol Bay Native Corporation acquired Peak Oilfield Service Company, an oil company based in Anchorage, Alaska, from Nabors Alaska Services Corporation.

Bristol Bay Native Corporation is a for-profit corporation that mandates all of its shareholders not to publicly trade their stocks or sell to others. BBNC stocks may be given as a gift from shareholders to first-degree family members, but other qualifying requirements are very stringent. Further, to become a shareholder is officially closed since Bristol Bay Native Corporation's inception in 1972.

Bristol Bay is a big and rich area of land. It is 34 million acres of land and it is also surrounded by pristine waters, which is home to the world's largest sockeye salmon fishery, plus other kinds of salmon namely silver salmon, king salmon and chum salmon. It is for this reason why aside from its rich land resources and hidden deposits underground, Bristol Bay is also widely known for bountiful sockeye salmon harvest. Tourism is high as well brought about by its largest sockeye salmon fishery. Commercial fishers, sport fishers, hunters and everyday tourists make it a point to visit Bristol Bay for the wonderful rich waters it has.

Recently, the BBNC has been very vocal about their opposition to the Pebble Mine Project, which seeks to conduct an open pit mine to extract large portions of copper, molybdenum and gold in Bristol Bay near Lake Iliamna and Lake Clark. While it was hoped that the Pebble Mind Project, should it push through, will provide jobs and produce a healthy tax cycle to Alaska, it will affect a very significant portion of Bristol Bay native's livelihood, which is its vast sockeye salmon fishery. The Fish First priority is BBNC's main objective in opposing this project. This shows BBNC's commitment to preserving the main lifeline of BBNC natives. For more news and updates about BBNC, please visit their website at http://www.bbnc.net.