CIBC slams 'perplexing' N.B. refusal to raise timber royalties during record lumber price surge
New Brunswick is digging in on its decision not to raise royalty rates on Crown timber to take advantage of record prices for lumber, even though records show it has lowered royalties in response to weak lumber prices in the past.
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'There's a landlord in the province that doesn't want to collect their rents,' says company analyst
Posted: May 12, 2021 6:00 AM AT | Last Updated: May 12
Acadian Timber Corp. owns 308,000 hectares of New Brunswick forest and sells sawlogs and pulpwood to provincial mills. Last week, the company was called an "underperformer" by CIBC for not being able to get better prices for its wood.( Jonathan Hayward/Canadian Press)