Western Forest Products is to receive C$21.5m in compensation for losing some of its harvesting rights under the the British Columbia provincial government’s Forestry Revitalisation Act.
The money, being paid out by the BC Ministry of Forests, includes C$16.5m for the loss of 685,216m3 of the company’s annual cut and 827ha of timber licences.
Western Forest Products will also be awarded a C$5m advance payment for its improvemens to Crown land. Both sides are currently negotiating a final settlement on the issue.
