Weyerhaeuser relinquishes timber on-island

  • Mon Sep 20th, 2004 6:00pm
  • News

Weyerhaeuser is giving 173,000 cubic meters of islands timber back to the province, as part of a province-wide timber reallocation, but exactly where the timber’s coming from has not yet been agreed.
The timber is part of the 1.2 million cubic meters the company agreed to return in exchange for $32.1-million. A total of 980,000 cubic meters of coastal timber will be reallocated from Weyerhaeuser with the remaining 210,000 from the interior. The wood will then be allocated by the province to community forests, woodlots, First Nations, and entrepreneurs.
The volume of timber is set, but the exact locations are still under negotiation said provincial communications officer Don McDonald.
The agreement with Weyerhaeuser is the first of 27 the province will negotiate with tenure holders. 20-percent of the province’s timber in TFL’s will be reallocated from big tenure holders by March 2006.