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Gold/Mining/Energy : Rock Resources
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To: Elizabeth Andrews who wrote (1012)3/22/1999 12:35:00 PM
From: the Chief  Read Replies (1) of 1996
 
I have received from a relaible source that MB will be announcing a "part 2" in compensation that will bring their total compensation to $100+MM. Here is the first release!

MacMillan Bloedel Ltd -

Van Sun says MacBlo gets $83.7-million from B.C.

MacMillan Bloedel Ltd
MB
Shares issued 124,451,920
1999-03-17 close $16.8
Thursday Mar 18 1999
The Vancouver Sun reports in its Thursday edition that the British
Columbia provincial government has agreed to give MacMillan Bloedel
$83.75-million in resource rights and land to make up for its loss of
harvesting rights on Vancouver Island because of the creation of new
parks in the mid-1990s. Reporter Kelly Sinoski says the compensation
deal, the details of which were released on Tuesday, is the negotiated
value of MacBlo's missed cutting rights covering about six million
cubic metres of timber on Vancouver Island. The specific land to be
transferred still has to be identified, but may include the release of
90,000 hectares of MacBlo's private land from tree farm licences and
the transfer of up to 30,000 hectares of Crown land into private
property for the company. The total amount of public and private
forest land involved will represent less than 1 per cent of B.C.'s
commercial land base. The deal outraged a Western Canada Wilderness
Committee spokesman, who says the province is proposing to sell off
B.C.'s proudest heritage, its publicly owned forest lands.
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