NANA profits again top $5 million

Posted: Wednesday, March 21, 2001

ANCHORAGE (AP) -- NANA Regional Corp. posted a $5.1 million profit in 2000, down 2.5 percent from a year earlier, the company's annual report says.

It marks the third consecutive year the Kotzebue-based regional Native corporation made a profit of more than $5 million.

The corporation, which represents Inupiats from Northwest Alaska, reported revenue of $176 million, up 30 percent. NANA has just over 10,000 shareholders and owns 1.7 million acres of surface estate and 1.8 million of subsurface.

The company has more than a dozen subsidiaries in oil field services, mining support services, real estate, tourism, engineering and other ventures.

NANA's net royalties from its huge Red Dog lead and zinc mine rose to $4.4 million in 2000, up from $3 million the year before, the annual report said.

NANA said its board of directors has set a goal of achieving 15 percent annual growth and $10 million in profits by the year 2005.

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