NORTHERN PENINSULA, N.L.
Gerry Byrne, the Minister of Fisheries and Land Resources, is denying that timber permits have been issued for Active Energy Group on the Northern Peninsula.
The minister spoke to The Northern Pen Wednesday afternoon, to correct an Active Energy news release which stated the company had been awarded two five-year permits for forestry management areas 17 and 18.
According to Byrne, this is not true and no commercial permits have been signed.
“We have informed the company that pending the resolution of certain other matters, that we’re in a position now to look at finalizing arrangements,” he said. “But those arrangements are not yet finalized, and no commercial permits have been issued to date. It would be by my hand that those permits are issued, and my hand has not signed such deals.”
Byrne expressed concern that as a publicly traded company, the false information reported could put the company in conflict with their securities regulator.
“The company securities regular takes these issues very very seriously from their home jurisdiction and I hope this does not cause problems for the company, with their own securities regulator, because this is not a factual statement,” said Byrne.
The Northern Pen will reach out to Active Energy for comment.
An earlier version of this story reported that the permits had been issued.
EARLIER STORY:
NORTHERN PENINSULA, N.L.
The provincial Department of Fisheries and Land Resources has approved Timberlands Newfoundland for two five-year commercial timber permits on the Great Northern Peninsula.
Active Energy Group, an international biomass based renewable energy and forestry management business, confirmed the approval of the permits for forestry management areas 17 and 18 in a news release on Nov. 19.
Timberlands Newfoundland is the local operating company of Timberlands International, a subsidiary of Active Energy.
With each permit, the company has an annual allowable cut of 100,000 cubic metres.
"This is a significant achievement both for the Company and Newfoundland and one which will bring rewards for all parties in the years to come,” Active Energy CEO Michael Rowan said.
“It is important to note that in addition to delivering value to our Group, it will also provide positive economic opportunities to the many various stakeholders in the Province.”
According to the release, the company will now begin planning for the commercial development of the forestry opportunities and construction and installation of the first CoalSwitch plant in Newfoundland.
CoalSwitch is a revolutionary biomass drop in coal replacement fuel, which provides an economic solution to the expensive retrofitting of power stations, the release states.
As well, the company is working on the strategy plan for the Great Northern Peninsula with the provincial government and expects to be able to provide a more detailed update on that project soon.
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