B.C. forestry companies say proposed legislation that would give government a veto over the transfer of timber cutting rights has put the entire forest industry “on pause.”
Forestry Minister Doug Donaldson said he’s heard from many small operators, including First Nations groups and communities, who are interested in purchasing a timber tenure. One of the goals of the amended Forest Act will be to ensure changes of control do not result in further concentration of harvesting rights, meaning that a swap that happened five years ago between West Fraser and rival Canfor could be off the table in the future.
But Donaldson said the legislation will give government a tool to monitor tenure swaps and hold them up to a “public interest test.”In a recent conference call on its first-quarter earnings, West Fraser CEO Ted Seraphim said uncertainties about government policy could cause the company to put major projects on hold over the next couple years.
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