Chugach Alaska Corporation (Chugach) is one of the thirteen regional Alaska Native corporations created by the Alaska Native Claims Settlement Act (ANCSA) as amended by the Alaska National Interest Land Conservation Act (ANILCA). The Chugach Region comprises some 10 million acres in South-central Alaska. Chugach is entitled to 928,000 acres, of which approximately 378,000 acres are full fee entitlement and 550,000 acres of subsurface estate. At this time, Chugach has received 94% of its total entitlement. Chugach has selected lands that have potential for economic development including commercial timber land, mineral estates as well as lands that have potential for tourism, and lands of cultural and historical importance to the Chugach people.
The coastal portions of the Chugach region support mixed sitka spruce and western hemlock forests. Natural regeneration and short maturation periods make this renewable resource a strong asset for the corporation and its shareholders. Chugach employs ecologically sound timber management strategies and follows the Forest Practices Act, Best Management Practices, to ensure this resource is available for future generations.
Historically, the Chugach region was one of the foremost mining regions in Alaska. The Beatson mine on Latouche Island and the Ellamar mine near Tatitlek yielded over 200 million pounds of copper, 52,000 ounces of gold and 1.7 million ounces of silver before closing down in the 1930’s. In addition to the properties located along the Central VMS Belt, which hosts both Besshi and Cyprus type deposits, Chugach owns mineralized property along the southern tip of the Kenai Peninsula, in the Kenai Fjords, Cordova, the Copper River Valley, and the Gulf Coast.
The first producing oil wells in Alaska were located at Katalla. From 1902 to 1933, wells at Katalla produced some 155,000 barrels of oil. The oilfield closed when the refinery burned down on Christmas Day in 1933. The Katalla field is located on the onshore portion of the Gulf of Alaska Tertiary Province which attracted major exploratory interest in the 1950’s and 60’s followed by offshore exploration in the 1970’s. The technology available today could, once again, make the area quite attractive to major oil interests and independents alike. Chugach holds title to over 10,100 acres of oil and gas estate at Katalla and Preferential Exchange rights to an additional 55,375 acres.
The Chugach region has some of the most unique and opportune tourism areas in the state. High mountain vistas, tidewater and alpine glaciers, deep fjords, protected bays and inlets, abundance of wildlife and access from major population centers make this region ideally suited for the tourism industry. Chugach owns lands within and adjacent to the Chugach National Forest and the Wrangell-St. Elias National Park. Unique landmarks include some of the largest non-polar glaciers in the world. The Columbia, Bering and Malaspina Glaciers are all accessible from Chugach’s lands. Mount Saint Elias rises from the protected waters of Icy Bay to 18,008 feet, the third highest mountain in North America. A major portion of Chugach’s lands lie within the Prince William Sound, which is well recognized as a visitor’s paradise.