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Gold/Mining/Energy : Rock Resources

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To: the Chief who wrote (1049)	3/30/1999 12:46:00 AM
From: keith massey	Read Replies (2) of 1996

Not sure if this was posted. 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. Best Regards KEITH

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