The Nk’Mip Creek wildfire of 2021 will not soon be forgotten by British Columbia residents in the area. However, it has yielded a unique partnership between the Osoyoos Indian Band (OIB) and Vaagen Fibre Canada, a forestry company, according to local reporting by the Times Chronicle.
News in timber
Sonoco Products Company Sells 55,000 Acres of Timberland in South Carolina
Sonoco Products Company, a global packaging company, announced on Thursday that it has sold approximately 55,000 acres of timberland located in South Carolina to Manulife Investment Management on behalf of its client for the sum of $72 million.
PRT Growing Services Acquires International Forest Company (IFCO)
PRT’s acquisition of IFCO establishes North America’s largest reforestation platform. PRT will operate 14 seed orchards and 28 nurseries, producing 630 million forest seedlings annually.
US National Interagency Fire Center Wildfire Update for the Week Ending March 31st
The US National Interagency Fire Center is reporting that as of Friday, wildfire activity is currently occurring in the Southern and Southwest areas, with 18 large new fires underway. Active wildfires are burning on approximately 11,919 acres, with 15 of the 18 large wildfires contained.
Washington State DNR Announces Plans for Prescribed Burns on More Than 2,100 Acres This Spring
The Washington Department of Natural Resources (DNR) plans to burn more than 2,100 acres this spring in an aim to prevent more severe wildfires this summer, according to The Seattle Times. In 2021, state lawmakers earmarked $500 million for wildfire prevention and forest health.
US Forest Service and National Alliance of Forest Owners Sign Memorandum of Understanding
On Monday, the US Forest Service and the National Alliance of Forest Owners announced the signing of a MOU creating a partnership to enhance cooperation between private working forest owners and public land managers during wildfires.
Delays in Implementing New Brunswick’s Higher Timber Royalties Saved Forest Companies Millions
Delays by New Brunswick’s provincial government in setting up higher timber royalties last summer to take advantage of elevated lumber prices helped forest companies avoid millions of dollars in extra charges on wood they were cutting on public land at the time, according to reporting by CBC New Brunswick.
Canadian Natural Resources Real GDP Declined in 2022Q4
Statistics Canada reported on Thursday that real gross domestic product (GDP) of the natural resources sector declined 1.9% in 2022Q4, after increasing 1.5% in 2022Q3. In contrast, the economy-wide real GDP was unchanged in 2022Q4.
Domain Timber Advisors Assumes Investment Responsibilities for Forestland Portfolios in US Southeast and Pacific Northwest
Domain Capital Group, LLC, a comprehensive private investment service firm, announced on Monday that its subsidiary, Domain Timber Advisors, LLC, has assumed investment responsibilities for a forestland portfolio in the US Southeast and Pacific Northwest.
Historic Memorandum of Understanding Signed Between AV Group NB and Wolastoqey First Nations
AV Group NB and six Wolastoqey First Nations have signed a memorandum of understanding that outlines a path forward towards mutually beneficial forest management and economic development opportunities, Canadian Forest Industries has reported.