News in timber

Canfor to Sell Mackenzie Assets for $70 Million

Canfor Corporation on Thursday (2-24-22) announced that it has entered into a Letter of Intent with McLeod Lake Indian Band and Tsay Keh Dene Nation to sell its forest tenure in the Mackenzie region of British Columbia and in a separate agreement with Peak Renewables to sell its Mackenzie site, plant, and equipment for a combined price of $70 million (CAD).

Lawsuit Challenges Bureau of Land Management’s Post-Archie Creek Fire Logging Plan

Cascadia Wildlands, Oregon Wild, and the Klamath-Siskiyou Wildlands Center, all environmental organizations, filed a lawsuit on February 8, 2022, that challenges the Bureau of Land Management’s (BLM) post-Archie Creek Fire logging plans. Nick Cady, Cascadia Wildlands Legal Director said on Tuesday that this is the BLM’s first major post-fire salvage logging operation under a relatively new resource management plan.

Allowable Annual Cut Reduced on Tree Farm License 8

B.C.’s chief forester, Diane Nicholls, announced on Thursday (2-10-22) that a new allowable annual cut (AAC) level for Tree Farm License (TFL) 8 in the Southern Interior has been set, effective immediately. The new AAC for TFL 8 is 158,400 cubic meters with a maximum of 131,500 cubic meters harvested from terrain of less than 45% slope.

Allowable Annual Cut Reduced for B.C.’s Okanagan Timber Supply Area

Shane Berg, B.C.’s deputy chief forester, has announced that he has set a new allowable annual cut (AAC) level for the Okanagan Timber Supply Area (TSA), effective immediately. The new AAC for the Okanagan TSA is 2,462,800 cubic meters. It is a decrease of approximately 20% from the previous AAC of 3,078,405 cubic meters, which included an increase to allow salvage of stands affected by the mountain pine beetle.

Wuikinuxv First Nation Acquires Forest License from Interfor Corporation

The Wuikinuxv First Nation (Wuikinuxv) and Interfor Corporation (Interfor) have announced a historic agreement to acquire a forest license in the Great Bear Rainforest Timber Supply Area from Interfor. The tenure purchase marks a milestone in the relationship between Wuikinuxv and Interfor. The acquisition, more than six years in the making, triples the forest tenure held by the Wuikinuxv.

The Ontario Teachers’ Pension Plan Board Assumes Direct Ownership of 870,000 Acres in U.S. South

The Ontario Teachers’ Pension Plan Board (Ontario Teachers’) has announced that it has completed a redemption transaction, where Tamarack Timberlands LLC, an investment vehicle owned by Ontario’s Teachers, has assumed the direct ownership of approximately 870,000 acres of timberland in the U.S. South. The large-scale timberland portfolio comprised of high-quality Loblolly pine is spread throughout the U.S. South.