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Canfor closes on Fort Nelson tenure transfer to Peak Renewables

Canfor has officially handed over its forest tenure in the Fort Nelson Timber Supply area in Northern B.C. to Peak Renewables.

Canfor announced yesterday the closing of the deal, which involves a Replaceable Forest License with an annual allowable cut of 553,716 cubic metres.

“I am pleased to have reached an agreement to sell our Fort Nelson tenure to Peak Renewables, a company that is committed to developing a long-term plan to rejuvenate the forest industry in the region,” Canfor CEO Don Kayne said in a statement when the deal was struck late last year.

Peak Renewables is currently establishing a 600,000 tonne per year wood pellet plant in Fort Nelson.

The company also purchased Canfor’s Fort Nelson mill assets last year, which included the idled PolarBoard OSB plant and the permanently closed Tackama plywood plant.