The new owners of the Elk Falls mill site say they will be engaging First Nations and the local community as it begins feasibility studies on possible uses for the property.
And one of those uses may include Liquefied Natural Gas (LNG), said David Erdman, Manager, Investor and Media Relations for Quicksilver Resources Canada Inc.
“Quicksilver will engage with the province to start the process of assessing the site for remediation and we intend to engage First Nations and the local community as site development possibilities emerge,” said Erdman. “We will engage stakeholders early and often through this process, and we’ll have broader communications issued as soon as possible.”
Catalyst Paper sold the Elk Falls industrial site and related assets to Quicksilver Friday, a Calgary-based corporation with extensive natural gas holdings, for $8.6 million.
Campbell River Mayor Walter Jakeway said the city will be in full co-operation mode with the new owners.
“It is encouraging that the former mill site has finally been sold,” said Jakeway. “The transaction represents the end of an era for our community. Campbell River’s citizens look forward to meeting the new owners and hearing and sharing in their vision and future plans. The location is well positioned and has tremendous potential. Our city leadership is open to discussing, idea sharing, and being creative regarding the needs and goals of our new corporate citizen.
“Reworking a large deactivated industrial site is not easy. It is beneficial to the Campbell River region to have a successful new venture active in our neighbourhood. Campbell River’s local economy is beginning an upswing and industrial activity on the shores of Duncan Bay certainly adds to the positive momentum.”
Sale of the approximate 1,200-acre parcel includes a fully-serviced, 400-acre industrial site and adjacent property. The site formerly housed a pulp and paper mill which began operation in 1952, was indefinitely curtailed in 2009 and closed permanently in 2010. Work has been underway since then to prepare the site for sale and redevelopment for other industrial uses.
“The transaction closed Friday,” said Erdman. “We intend to begin feasibility studies on suitable uses for the property, which may include LNG. We will be working with potential partners in this regard.”
The news comes after a deal fell through that was announced last August in which Catalyst said it would sell the 400-acre Elk Falls mill site to Pacifica Deep Sea Terminals.
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