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Newspaper
Chetwynd The Echo
Location
Chetwynd, British Columbia, Canada
Date
Feb 18, 2011
Page
3
Enbridge will offer First Nations and Metis along its Northern Gateway route about 380 million dollars over three decades. The package bases 10 percent equity and a 1 percent annual pre tax earnings trust, with eight of 40 communities expressing interest.
Western Coal Inc and Ridley Terminals announce an amended long term contract that stabilizes coal export flows as Ridley approaches 12 million tonnes per year capacity. Keith Calder cites ongoing collaboration with Ridley and governments to support B C’s economy. George Dorsey notes Western Coal as Ridley’s top customer while Arch Coal expands shipments. Tech Resources studies Quintette mine revival north of Prince George as capacity tightens. Prince George economic group pushes terminal capacity expansion to sustain growth.
Canfor reports a positive financial position with plans to invest 300 million over three years to modernize mills. The downturn hit forestry towns as sawmills were shuttered in Prince George Mackenzie Chetwynd and Quesnel. As markets recovered Canfor restarted mills including Quesnel supplying China. Rustad Bros remains down while Wavenley mill gains 24 million in restart funds and Vanderhoof Polar upgrades receive 38 million.
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