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FORT NELSON, B.C. – Canfor announced Tuesday that it has closed its Fort Nelson forest tenure transfer to Peak Renewables.

In August, The Ministry of Forests gave the go-ahead for the transfer of Replaceable Forest Licence A17007, which has an allowable annual cut limit of 553,716 cubic metres.

The Province says the tenure transfer allows Peak to move forward with plans to commission a wood-pellet facility in the area, in partnership with the Fort Nelson First Nation.

A $30-million, multi-year agreement had been reached between Canfor and Peak Renewables for the sale of the tenure last year.

Peak plans on building a manufacturing plant in Fort Nelson that would produce around 60,000 tonnes of wood pellets per year and is looking to have that active by early 2022.

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