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Red Dog shifts to production sharing: profits go to shareholders of all land-holding regional native corporations.(Nana Regional Corporation Inc. and Red Dog Films Inc.)(Financial report)
Alaska Business Monthly
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October 1, 2007|
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COPYRIGHT 2007 Alaska Business Publishing Company, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
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After nearly 18 years of producing zinc, lead and silver, the Red Dog mine in Northwest Alaska has finally recovered about a billion dollars in initial and ongoing capital costs and its operator will begin paying its Native landowner a net profits percentage of its open-pit mine business.
The timing couldn't be better for the Red Dog landowner NANA Regional Corp., as the remote mine is on track to produce another record year of billion-dollar profits. In 2006, thanks to dramatic increases in zinc prices, Red Dog earned a record $1.08 ...
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