Kitsumkalum First Nation buys Terrace sawmill, pellet plant

By Rod Link
The Terrace Standard
May 1, 2024
Category: Business & Politics
Region: Canada, Canada West

TERRACE, BC — The Kitsumkalum First Nation has purchased Skeena Sawmills, the Skeena Bioenergy pellet plant and all relevant assets in a complex sales agreement set out in an April 16 B.C. Supreme Court order. The $14.05 million purchase, effective April 30, ends an extended period of uncertainty over who would own the entities that were placed in receivership in September 2023. …In making his determination, Justice Paul Walker of the B.C. Supreme Court found that the sales agreement between the Kitsumkalum First Nation and court-appointed receiver Alvarez and Marsal “is commercially reasonable.” Kitsumkalum chief councillor Don Roberts said Kitsumkalum will manage the forest tenures that are part of the purchase package as an ecological whole and manage the tenures beyond logging for their timber value. …The Kitsumkalum revised offer also addressed long-term contracts between Skeena Sawmills and two logging companies. …Projected re-opening dates for the sawmill and pellet plant have yet to be set.

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