In a transaction originally reported in September 2020, Weyerhaeuser today (11/20) announced the completion of two separate transactions in which it purchased timberlands from and sold timberlands to funds managed by Hancock Natural Resources Group, a Manulife Investment Management Company.
News in timber
Rule Change Opens Up Vast Stretches of National Forests to Logging in Oregon, Washington and Beyond
The U.S. Forest Service on Wednesday (11/18) finalized a rule change, to a landmark Nixon-era environmental law, that aims to open up vast stretches of national forests to increased logging in Oregon, Washington and beyond.
PotlatchDeltic Sells Last Land Holdings in Minnesota
The nonprofit Conservation Fund has just acquired 72,440 acres of land across 12 northern Minnesota counties. The land will be permanently preserved as undeveloped for wildlife habitat, public recreation and sustainable timber harvest, while also protecting water quality.
Canfor Sells Forest Tenure in Fort Nelson Area to Peak Renewables
Canfor announced on Tuesday (11/17) that they had reached a multi-year $ 30 million agreement with Peak Renewables involving the sale of the Company’s forest tenure in the Fort Nelson region of B.C. As always, the transactions are subject to customary closing conditions, which include the approval of the B.C. Minister of Forests.
Ontario Provincial Government Proposes Making Temporary Logger Exemption to Endangered Species Permanent.
The Ontario provincial government is proposing making a temporary, 2013 exemption, for loggers from the endangered species law permanent.
China’s Ban on Australian Forest Products Could Actually Boost Green Triangle Processing Industry
According to one Australian forestry sector representative, China’s indefinite suspension of timber exported out Australia’s Victoria region could actually help boost Green Triangle’s processing industry. Industry sources estimate the Green Triangle timber export industry underpins around 1,000 jobs in the south-east of South Australia (SA) and western Victoria.
Oregon Department of Forestry Announces Official End of 2020 Fire Season
The Oregon Department of Forestry (ODF) announced that at 9:00 AM on Friday (11/6) that Southwest Oregon’s second-longest fire season on record ended. The 190-day season began May 1, among the earliest start dates on record, due to dry conditions and an outlook for above-normal temperatures and below-normal precipitation.
China Suspends the Importation of Timber from Australia
Ties between China and Australia began to fray in early April and the friction between the two countries continues to heat up. On Monday (11/2), China’s foreign ministry confirmed that China had suspended imports of timber from the Australian state of Queensland, noting that since January, Chinese customs has detected several cases of live pest in timbers imported from the region.
Weyerhaeuser to Invest $16.1 Million at Natchitoches Louisiana LVL Mill over Next 3 + Years
Weyerhaeuser announced that it expects to invest $16.1 million over the next 3 or more years in upgrades to equipment and the modernization of their facility located in Natchitoches Louisiana.
Montreal Economic Institute Economist Suggests Quebec Increase the Harvest of Provincial Forestlands
Miguel Ouellette, a Montreal Economic Institute (MEI) economist and director of operations has written an economic note titled “Quebec Forests: Rural Regions Lose Hundreds of Millions of Dollars a Year.”