Canfor Completes Forest License Transfer to McLeod Lake Indian Band and Tsay Keh Dene Nation
On Monday, Canfor announced the completion of the subdivision and sale of its Forest License in the Mackenzie, BC, Timber Supply Area (TSA) equally to the McLeod Lake Indian Band and the Tsay Keh Dene Nation.
Total proceeds from this tenure sale and the previously announced disposition of associated Mackenzie sawmill assets are $69 million.
In a statement accompanying the announcement, Canfor Executive Vice President of North American Operations Stephen Mackie said:
“Building on our long-standing relationships, Canfor is pleased to have reached this arrangement that will expand the Nations’ participation in the forest economy and stewardship of forest resources in the region. We believe this agreement will support improved fiber access in the TSA and generate significant economic benefits for local and regional communities.”
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