Four First Nations of the Nanwakolas Council and Western Forest Products Announce New BC Forestry Agreement

On Monday (10-23-23), Western Forest Products Inc. and the Tlowitsis, We Wai Kai, Wei Wai Kum, and K’ómoks First Nations (the “Nations,” all member First Nations of the Nanwakolas Council) announced they had reached an agreement for the Nations to acquire a 34% interest from Western in a newly formed limited partnership for $35.9 million (CAD).

The BC Provincial Government helped facilitate the partnership through Incremental Treaty Agreements with the Nations, all of whom are in Stage 5 of the BC Treaty Process. The formation of the partnership and acquisition by the Nations is subject to various closing conditions, including subdivision and tenure transfer approvals from the BC Ministry of Forests. Western and the Nations are working towards closing the acquisition in 2024Q1.

The partnership will consist of certain assets and liabilities of Western’s Mid Island Forest Operation, including Block 2 of Tree Farm License 39. The operations of the new partnership will cover approximately 157,000 hectares (387,947 acres) of forest land in the traditional territories of the Nations near the communities of Campbell River and Sayward on eastern Vancouver Island.

The partnership will manage an allowable annual cut (AAC) of 904,540 cubic meters of timber and includes a long-term fiber agreement to support Western’s coastal BC manufacturing operations.