Canfor's Radium sawmill has been closed since 2009.

Canfor's Radium sawmill has been closed since 2009.

Canfor to invest $50 million

Canfor has announced $50 million in capital investments in their "southern BC mill facilities," over the next few years.

Alongside the announcement that Canfor has completed the acquisition of the Elko and Canal Flats sawmills, Canfor has also re-iterated their announcement of $50 million in capital investments in their “southern BC mill facilities,” over the next few years.

While no funds have been earmarked for any facility in particular, one of the potential benefactors is the sawmill in Radium. Canfor is currently in the process of developing a capital plan for the region that will be presented to the board in a couple months, according to Canfor Director of Public Affairs & Corporate Communications Christine Kennedy.

“We’re in the process of deciding which facilities will be receiving those funds,” she said. “No decisions have been made.”

While where the funds will be allocated is yet to be determined, there is one major roadblock for the Radium mill to overcome before it can become economically viable, according to Kennedy. Currently, the mill would use propane to heat the dry kilns, and thanks to the high cost of propane, Kennedy says that this cost accounts for about 20 per cent of operational costs for the mill, as opposed to 5 per cent for most others.

“One of the key things in looking at Radium, as far as a potential capital investment site, is a wood residual energy system,” Kennedy said. “That would be an absolutely necessary part of making that mill viable.”

More to follow in Wednesday’s edition of The Echo.

Just Posted

The end of an Echo
The end of an Echo

Invermere Valley Echo shuts down operations in Columbia Valley

Creating a new narrative for Canal Flats

Economic development consultant hired, lists vision for next 90 days

Princeton wildfire phots courtesy of Debbie Lyon.
UPDATE: Crews battle as wildfires rage in B.C. Interior

Crews brace for another day on B.C. firelines as no let up is likely

VIDEO: B.C. wildfires by the numbers
VIDEO: B.C. wildfires by the numbers

Wildfires continue to engulf regions of B.C.’s forests and communities.

Aerial view south of Williams Lake Friday afternoon shows dry lightning storm passing over, leaving fire starts behind. Lightning sparked more than 100 new fires Friday. (Black Press)
VIDEO: More than 180 wildfires burning across B.C.

Firefighters from other provinces called in to assist

DTSS Grad March 2017
DTSS Grad March 2017

DTSS Grad March 2017

59 cats seized in Chase
59 cats seized in Chase

59 neglected and injured cats were seized from a property in Chase

(Flickr/Andreas Eldh)
Soundgarden singer Chris Cornell dead at age 52

The singer/songwriter passed away early Thursday morning in Detroit

Paying tribute to a primeval passage
Paying tribute to a primeval passage

Uninterrupted celebrates the Adams River sockeye run in an extraordinary way.

UPDATE: Pemberton Music Festival cancelled, no automatic refunds
UPDATE: Pemberton Music Festival cancelled, no automatic refunds

In the past, the music festival located in Pemberton drew large crowds last year of 180,000 fans

Photo by: WeissPaarz.com
Medical wait times cost B.C. patients $2,300 each

New Fraser Institute report places B.C. at second worst in costs associated with long wait times

UPDATE: 22 killed at Ariana Grande concert
UPDATE: 22 killed at Ariana Grande concert

Witnesses reported hearing two loud bangs coming from near the arena’s bars at about 10:35 p.m.

A university study finds that about nine per cent of Canada’s Grade 11 and 12 students – roughly 66,000 teens – have driven within an hour of drinking and 9.4 per cent drove after using marijuana.                                 Photo: Now-
Leader file
One in three Canadian high school students have rode with drinking drivers, study reveals

Nearly one in five rode with a driver who’d been smoking pot

Top court to hear federal government’s appeal on residential school records
Top court to hear federal government’s appeal on residential school records

A lower court judge ruled to destroy the stories after 15 years unless consent is given to preserve

Most Read