West Coast forest cutting rights soldPrimary Industries
Associate Primary Industries Minister Jo Goodhew has today announced the sale of 22,800 hectares of Crown forest cutting rights on the West Coast to Ngāi Tahu Forest Estates Ltd (NTFE).
“The Crown’s forests are being sold to NTFE under a first right of refusal dating back to Ngāi Tahu’s 1997 Treaty Settlement,” says Mrs Goodhew.
“The land the forests are on was previously purchased by Ngāi Tahu as part of their Treaty Settlement.
“Since 1990, government policy has been to exit from commercial forestry on commercial terms. The sale of forests to Ngāi Tahu is consistent with this policy.”
Existing supply agreements with timber processing mills will continue. There is potential for supply to increase to some of these mills.
Settlement is expected to occur on 30 April 2014.