CANADA (News release) -- The Alberta provincial government announced a renewed joint forest management agreement (FMA) with West Fraser Mills Ltd. and Tolko Industries Ltd. for the next 20 years, in exchange for various responsibilities. The FMA allows both companies to maintain the right to establish, grow, harvest and remove Crown timber from the forest management area.

Over its lifespan, the FMA will potentially contribute:

$3.2 million in holding and protection charge payments
$69.4 million in timber dues
$1.2 billion to Alberta's GDP

West Fraser and Tolko provide hundreds of well-paying jobs, sponsorships, donations and job training to residents in the High Prairie and Slave Lake region.

Both companies also have a strong track record of business relationships with Indigenous communities, including Metis Settlements.

West Fraser and Tolko's current forest management plan was recently approved and is in place until 2031. The plan is based on sustainable forest management principles, practices and implementation.