Canfor selling British Columbia forest tenure

Canadian lumber producer, Canfor, reported that it has entered into a letter of intent with the McLeod Lake Indian Band and Tsay Keh Dene Nation to sell its forest tenure in the Mackenzie region of British Columbia.

The Vancouver, British Columbia-based company has also entered into a separate agreement with Peak Renewables to sell its Mackenzie site, plant, and equipment for a combined price of 70 million Canadian dollars (US$54.8 million).

Canfor, McLeod Lake Indian Band, and Tsay Keh Dene Nation intend to work toward a definitive agreement for the sale of the forest tenure and will seek approval from the BC Minister of Forests, Lands, Natural Resource Operations, and Rural Development for the tenure transfer. 

“We are very pleased that the sale of the Mackenzie tenure will provide an opportunity for the McLeod Lake Indian Band and Tsay Keh Dene Nation to grow their leadership in the forest economy and advance nation stewardship values for the benefit of their communities,” said Don Kayne, Canfor president and CEO.

Chief Pierre of the Tsay Keh Dene Nation stated “First Nations in BC have been relegated to marginal roles in the forest sector for far too long. The Letter of Intent signed with Canfor has the potential to dramatically change this imbalance within the Mackenzie Timber Supply Area.” 

Pierre also noted that, “with further work and agreements the Letter of Intent provides a clear path for the eventual transfer to and subdivision of the forest tenure between McLeod Lake Indian Band and Tsay Keh Dene.” 

Chief Chingee of the McLeod Lake Indian Band stated “As stewards of our ancestral territory, we, the People of the Rocks, are pleased to be acquiring this forestry tenure within our Territory. This purchase represents an important opportunity for us to continue our work towards economic stability and prosperity for our members, communities, and business partners, all while ensuring careful and responsible stewardship of our sacred environment in accordance with our Tse’khene laws, customs, and traditional knowledge.” 

Canfor said it has collaborated with the McLeod Lake Indian Band and Tsay Keh Dene Nation to advance relationships and support nation stewardship and natural resource development goals. 

The tenure agreement will provide both nations with greater oversight of and control over resource development activities within their traditional territories.