The BC government is continuing to work through a process, which is already underway, to temporarily defer logging in priority old-growth forests. In turn, it allows the government time to work with First Nations to decide how they should be managed in the long term. Experts had identified 2.6 million hectares of unprotected old-growth forest at risk of permanent biodiversity loss.
News in timber
PotlatchDeltic and CatchMark to Combine and Create Leading Integrated Timber REIT
PotlatchDeltic Corporation and CatchMark Timber Trust today announced that they have entered into a definitive agreement to combine in an all-stock transaction. The combination brings together two high quality timberland REITs, resulting in PotlatchDeltic owning approximately 2.2 million acres of diversified timberlands.
B.C. Government Waits for First Nations to Agree Upon Old-Growth Logging on Shared Lands
The B.C. government today still wants First Nations to reach a consensus before logging is deferred in old-growth forest on shared Indigenous territories. Tara Marsden, sustainability director for the Gitanyow Nation’s hereditary chiefs’ office in northwestern B.C., said consensus represents a “high bar” in a complex process.
New Mexico Wildfires Traced Back to U.S. Forest Service’s Planned Preventative Measures
Federal investigators announced that the two fires east of Santa Fe, New Mexico, which merged together in April to form the massive blaze at the southern tip of the Rocky Mountains to create the largest wildfire in New Mexico history, have been traced to planned burns set by U.S. Forest Service managers as preventative measures.
U.S. National Interagency Fire Center Wildfire Update for May 31, 2022
On Tuesday (5-31-22), the U.S. National Interagency Fire Center (NIFC) reported that the 2022 wildfire season remains well ahead of both 2021 and its 10-year average. Currently, more than 5,300 wildland firefighters and support personnel are assigned to incidents across the country. Year to date through March 31, 27,409 wildfires had been reported, and they had burned 1,889,439 acres.
Japan’s Mitsui and Nomura Enter Into an Agreement to Purchase Australia’s New Forests
On Friday, New Forests announced that Japan’s Mitsui and Nomura had entered into an agreement to purchase 100% of all the shares of New Forest. Mitsui and Nomura will provide capital to support New Forests’ strategic growth initiatives and the global expansion of its investment platform.
New Brunswick Plans to Increase Stumpage Rate Fees on Trees Coming From Crown Land
A New Brunswick official said on Monday that the government is preparing to increase what it charges forestry companies for timber coming off of Crown-owned lands. The Minister of Natural Resources and Energy Development said New Brunswick’s seven-year-old timber royalties are too low given what’s happened with the price of lumber.
Oregon Gov. Brown Signs Into Law Private Forest Accord Package
Oregon Governor Kate Brown signed into law the bipartisan Private Forest Accord. The package is the most comprehensive update to the Forest Practices Act since 1971, establishing new protections for salmon and other sensitive species on over 10 million acres of forestland in Oregon. The proposal seeks to meet federal standards.
U.S. National Interagency Fire Center Wildfire Update for May 23, 2022
The NIFC is reporting that one large new wildfire was reported on Sunday (5-22-22) in Texas. Nationally, there are now 14 large wildfires burning over 536,604 acres in seven states. Currently, there are 6,332 personnel dedicated to controlling these fires. Only 5 of the 14 wildfires are being reported as partially contained.
Weyerhaeuser Completes Acquisition of Timberlands in North and South Carolina
Weyerhaeuser Company announced on Thursday (5-19-22) that it had successfully completed the acquisition of 80,800 acres of high-quality timberland located in North and South Carolina from a fund managed by Campbell Global for approximately $265 million. The original announcement of this acquisition was made in April of 2022.