By: The Working Forest Staff
Hornepayne Lumber and Hornepayne Power are receiving a $4 million equity investment from an alliance of three First Nation communities in northeastern Ontario. The investment group, Northeast Superior First Nation Investment LP, is taking a 30 per cent ownership stake in the dimensional lumber mill and co-generation plant, according to a report in Northern Ontario Business.
The investment group consists of the Missanabie Cree, Chapleau Cree and Netamisakomik Anishinabek (Pic Mobert) First Nation.
An agreement was reached with the mill’s principal owner, Frank Dottori, earlier this year. The deal was finalized Nov. 29 at a ceremony in Hornepayne.
Read the full article here.
Read The Working Forest coverage of the restart of Hornepayne Lumber in the Winter #2 2016 issue, here.