The State Government of South Australia has appointed BDO Advisory (SA) Pty Ltd to undertake an independent audit on the Plantation Lease Agreement with OneFortyOne Plantations Pty Ltd., as Timberbiz reports.
Areas to be covered in the audit will include whether OFO has met the following requirements during 2018:
• area weighted average clearfall age
• tender process for uncontracted sawlog in excess of planned viable domestic supply
• sale contract lengths for sawlog exports
• the amount of sawlog and pulplog exported and if those logs were appropriately classified.
In addition, a review of ancillary confidential documents between the State and OFO (including agreements, deeds, contracts or similar) will be undertaken to determine: whether these documents contain any relevant undertakings relating to supply of product to domestic manufacturers not covered by the lease; whether those undertakings, if they exist, have been adhered to for calendar year 2018.
OneFortyOne is a leader in the Australian forestry industry. It holds long-term harvesting rights to a softwood plantation estate in the Green Triangle region comprising over 80,000 hectares.
