Inside Alaska Business
Teck Resources
The operator of Red Dog Mine is merging with a former partner in the Pebble Mine project. Teck Resources and Anglo American agreed in September to a $53 billion merger-of-equals to form Anglo Teck, retaining Teck’s headquarters in Vancouver, British Columbia. The merged company will have the capacity to produce 1.2 million tonnes of copper per year, making it one of the world’s largest producers of this metal. Teck is already a globally significant producer of zinc and germanium thanks to Red Dog and the Trail zinc refinery in British Columbia. London-based Anglo American had been seeking copper in the Bristol Bay watershed until 2013, when it withdrew from the Pebble Limited Partnership.
Santos
The Pikka Project remains an Australian endeavor. A consortium led by Abu Dhabi National Oil Company decided on September 19 to withdraw from a proposed $18.7 billion takeover of Santos, the parent company of the Pikka Phase 1 development on the North Slope. The board of Santos, after an extended due diligence period, had asked for $5.626 per share. On the day of the decision, Santos stock dropped from $5.19 per share to $4.75. Santos still expects first oil from Pikka Phase 1 in the first quarter of 2026.
Catalyst Cannabis | El Green-Go’s
“Not only does it work great to have tacos next to weed,” says Will Schneider, laughing at the joke that everyone tells, “but it’s also an underserved area in the community to have nice communal spaces where people can meet and eat.” The founder and CEO of Catalyst Cannabis Company created that space in a former First National Bank Alaska branch at Northern Lights Boulevard and Boniface Parkway. The cannabis retailer opened its fourth Anchorage location in July, stashing precious merchandise in the old bank vault. The other half of the building is configured as a food court. El Green-Go’s, which built a reputation as a go-to food truck in Downtown Anchorage, is settling in this month as an anchor tenant.
Furniture Enterprises of Alaska
Originally the first Walmart in Wasilla and later a Sears, the big-box store at Parks Highway and Seward Meridian Parkway is now a furniture supercenter. Furniture Enterprises of Alaska refurbished the building to hold three of its brands: Sadler’s Home Furnishings, Ashley Homestore, and a new spinoff: Sadler’s Outlet. Company president Dave Cavitt says the outlet is meant for lower-priced overstock or lightly damaged items. Sadler’s hasn’t been in Wasilla since the ‘80s, formerly operating in what is now the Alaska Industrial Hardware store.
Treeforms | Time Equities Inc.
The Treeforms Furniture Gallery in Wasilla is closing, and the company is consolidating operations in its Anchorage store on Old Seward Highway; simultaneously, but unrelated, the Midtown building is changing owners. New York City-based Time Equities, Inc. added the property at 4831 Old Seward Highway to its Anchorage portfolio, which also includes the nearby Amazon warehouse and the Midtown Mall. Treeforms, meanwhile, established its Nordic Spaces brand at 34th Avenue and A Street when the Scan Home Furniture store at that location went out of business.
Toast of the Town
Already a dominant player in the event planning sector, Toast of the Town expanded by acquiring the complementary capabilities of longtime décor and rental provider Alaska Event Services. The combined entity becomes Alaska’s largest event planning, décor, and rental entity. The two Anchorage-based companies produce more than 150 events annually. They will continue to operate under existing brand names. “We are combining strengths to give clients more creative possibilities and greater value. Anchorage clients no longer have to juggle multiple vendors,” says Toast of the Town COO Martha Keele.
Ben Franklin Store
The Juneau location of the Ben Franklin craft store franchise is closing. Fred and Sally Wiley purchased the downtown shop in 1973, and three generations of the family have operated it since then. The owners announced in September that the holiday shopping season would be the last before the store closes by the end of the year. As part of the first US retail franchise, Ben Franklin sells hobby supplies, souvenirs, and sundries. The parent company went bankrupt in 2017; from a peak of 2,500 stores nationwide, only a handful of franchise locations in each state remain.
Pillbox Drug Co.
Patients in Skagway don’t have to get prescriptions filled by mail or flown in from Juneau anymore. Dahl Memorial Clinic opened a pharmacy in August, in partnership with the nonprofit Portland House. Named for a Gold Rush-era business, Pillbox Drug Co. occupies a historic building on State Street. A pharmacy, unlike the clinic’s dispensary, can bill insurance companies for reimbursement. The drugstore also offers Skagway locals a 10 percent discount on all items except prescription medications.
Let’s Stay Home
A new spot for home furnishings and décor opened in Anchorage in September. Let’s Stay Home blends new, custom, and consigned pieces, including seating, lamps, and rugs. The shop at Old Seward Highway and Tudor Road specializes in cozy, curated pieces rather than mass-market or overstock furniture. This includes consignments of “gently loved” furniture or décor, with the consignors earning half of the sale price.