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Canfor closes Fort Nelson tenure transfer

Announcement Tuesday follows provincial approval in August

Canfor says it has closed the transfer of its Fort Nelson forest tenure to Peak Renewables.

The announcement Tuesday follows provincial approval of the sale in August.

The licence has an allowable annual cut of 553,716 cubic metres, and positions Peak to pursue its plans to commission a wood pellet plant in the region in partnership with the Fort Nelson First Nation, according to the province.

Peak had already earlier purchased the old Canfor sawmill and oriented strand board (OSB) assets in Fort Nelson, which have been shut down for more than a decade. Canfor announced last November it had reached multi-year $30-million agreements with Peak for the tenure.

Peak has said it plans to build a wood-pellet manufacturing plant on the old Canfor site in Fort Nelson, which still has buildings, a log pond, and a biomass energy plant. The plant would produce 600,000 metric tonnes of pellets annually, to be exported to Asia, where pellets are burned as an alternative to coal for heat and power.

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