News

Terrace-based logging company settles up with city

YAORUN Wood, the log export company working out of Terrace who had fallen behind on three months of payments to the city for the log sort yard they lease on Keith Ave. squared up that and other debts this week.

On Nov.1, the city confirmed they had received a cheque for the outstanding $30,000 in lease payments, and were no longer considering actions against the company.

Previously, Mayor Pernarowki had said that continued nonpayment would result in the city taking back the lands and seeking to lease it to a different company.

Also last week, on Oct.30, YaoRun payed back the full $586,000 in stumpage fees it owed to the provincial government in response to the ministry of Forests, Lands, and Natural Resources having seized what they estimated was $2.3 million worth of logs from the Terrace yard.

With the seizure notice lifted, the company can continue preparations to ship logs overseas, which YaoRun operations manager Xinchen Song said earlier this month would begin mid- to late- November.

 

 

 

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