Canfor sells forest tenure, site, plant and equipment in Mackenzie

Two deals have been made by Canfor to sell off their assets in the Mackenzie area.

Peak Renewables will be buying up the Mackenzie site, plant, and equipment for $70 million.

Canfor has entered into a letter of intent with the McLeod Lake Indian Band and Tsay Keh Dene Nation to sell the forest tenure for the Mackenzie region.

A definitive agreement still needs to be made, and approval from the Ministry of Forests is underway.

“We are very pleased that the sale of the Mackenzie tenure will provide an opportunity for the McLeod Lake Indian Band and Tsay Keh Dene Nation to grow their leadership in the forest economy and advance Nation stewardship values for the benefit of their communities,” said Don Kayne, President & CEO, Canfor.

“First Nations in BC 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,” said Chief Pierre of the Tsay Keh Dene Nation.

“This purchase represents an important opportunity for us to continue our work towards 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,” said Chief Chingee of the McLeod Lake Indian Band.