Close X
Thursday, November 28, 2024
ADVT 
National

Canfor to sell B.C. tenure, assets for $70M

Darpan News Desk The Canadian Press, 24 Feb, 2022 05:28 PM
  • Canfor to sell B.C. tenure, assets for $70M

VANCOUVER - Canfor Corp. has signed a letter of intent to sell its forest tenure in the Mackenzie region of British Columbia to two First Nations.

The Vancouver-based company says the sale of its rights to manage the forest and harvest timber to the McLeod Lake Indian Band and Tsay Keh Dene Nation is subject to approval from the provincial government.

Canfor has also agreed to sell its Mackenzie site, plant and equipment to Peak Renewables.

The combined price of the two agreements is $70 million.

Canfor CEO Don Kayne said the company is pleased that the sale will allow the two First Nations to grow their leadership in the forest economy and advance stewardship values for the benefit of their communities.

Chief Johnny Pierre of the Tsay Keh Dene Nation said First Nations in B.C. have been relegated to marginal roles in the forest sector for far too long.

"The letter of intent signed with Canfor has the potential to dramatically change this imbalance within the Mackenzie Timber Supply Area," he said in the news release.

He added the agreement provides a path to the eventual transfer and subdivision of the forest tenure between the two First Nations.

"This purchase represents an important opportunity for us to continue our work toward economic stability and prosperity for our members, communities and business partners, all while ensuring careful and responsible stewardship of our sacred environment in accordance with our Tse'khene laws, customs and traditional knowledge," added Chief Harley Chingee of the McLeod Lake Indian Band.

 

MORE National ARTICLES

Experts react to expanding BC Wildfire Service

Experts react to expanding BC Wildfire Service
A fire ecologist says new provincial funding to expand the BC Wildfire Service to a year-round endeavour is a welcome step toward preventing disasters, while others in the field say the funds could be better spent elsewhere.

Experts react to expanding BC Wildfire Service

NDP asks Liberals to drop EI mat leave appeal

NDP asks Liberals to drop EI mat leave appeal
In his letter to Employment Minister Carla Qualtrough, NDP critic Daniel Blaikie says an appeal of the tribunal ruling would only prolong access to justice for new parents who lose their jobs.

NDP asks Liberals to drop EI mat leave appeal

Kamloops, B.C., child honoured for brave act

Kamloops, B.C., child honoured for brave act
A post on the City of Kamloops Facebook page says Jane Deelstra received a certificate from Kamloops RCMP Supt. Syd Lecky on Tuesday, recognizing her "great bravery and perseverance."

Kamloops, B.C., child honoured for brave act

Ottawa mulls closing street in front of Parliament

Ottawa mulls closing street in front of Parliament
Downtown Ottawa Coun. Catherine McKenney has floated the idea of working with federal officials and the community to close Wellington Street, which runs directly along Parliament Hill, to all vehicles except public transit, pedestrians and cyclists.    

Ottawa mulls closing street in front of Parliament

Stabbing at a local Surrey high school leaves two teens injured

Stabbing at a local Surrey high school leaves two teens injured
Surrey RCMP say they responded to reports of a stabbing on the school grounds Tuesday afternoon. They say in a news release that teenagers were found with non-life-threatening injuries and taken to hospital.

Stabbing at a local Surrey high school leaves two teens injured

Tories end boycott of national security committee

Tories end boycott of national security committee
Interim Conservative leader Candice Bergen announced the reversal on Tuesday, saying she was writing to Prime Minister Justin Trudeau to have Tory MPs Michelle Rempel Garner and Rob Morrison appointed to the committee.

Tories end boycott of national security committee