Tolko Announced Renewal of Forest Management Agreement

SEATTLE (Scrap Monster): Tolko Industries Ltd. announced renewal of forest management agreement (FMA) with the Crown, in support of forestry jobs in Alberta. The renewed FMA allows long-term investment in northern Alberta communities and forests.

The renewal of the agreement maintains the right to establish, grow, harvest and remove Crown timber from the area for the next 20 years. Over this period, the renewed agreement will contribute $3.6 million in holding and protection charge payments, $29.7 million in timber dues. Moreover, it will contribute $864 million to the province’s GDP, said Government of Alberta’s official webpage.

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The FMA provides Tolko with continued, secure access to sustainable wood fibre. It also supports initiatives to enhance meaningful relationships and increased economic opportunities with indigenous communities. These communities will be benefited with logging contracts and other contracts such as the management of mill’s log yard.

Brad Thorlakson, President and CEO, Tolko noted that the news about the renewal of the FMA is good news for its employees and the many partners that work closely with it in the northern Alberta region. Furthermore, he acknowledged the strong community support and assured to offer more employment opportunities in the region.