Under terms of the agreement, a supply of timber from the Ntityix Resources licenses will be provided to Tolko in exchange for a supply of lumber and panel products produced by Tolko’s timber processing operations.
Logs meeting Tolko’s specifications will be sold to Tolko at fair market value. In return, Tolko will sell Ntityix Resources a volume of lumber and panel products equivalent to that required to build up to ten houses on Westbank First Nation land.
Tolko’s General Manager Lumber and Plywood Sales and Marketing, Larry Broadfoot said, “This agreement is a great example of the collaboration and ingenuity of Ntityix Resources and Tolko. It clearly demonstrates the goodwill between our organizations and the focus we have on long-term working relationships.”
Ntityix Resources LP is the forest management division of Westbank First Nation. Ntityix Resources manages three forest tenures for Westbank First Nation within the Okanagan Shuswap District. They are responsible for the sustainable management of the forest resources, including long term planning and analysis, site assessments, log sales, harvesting, tree planting and stand maintenance.
Tolko Industries Ltd. is a private, Canadian-owned forest products company based in Vernon, British Columbia. Tolko is a major producer and marketer of lumber, veneer, plywood, oriented strand board and kraft papers, with manufacturing operations across Western Canada.
