Province Close to 1.2 million hectares of land Deal with European Company

The provincial government is in the final stages of closing a deal that will provide a European company with a timber licence to cut 1.2 million hectares of land in the province.

Active Energy Group, based in London, entered an agreement with the province.

Active Energy Group is a London Stock Exchange-listed firm operating internationally across the entire timber supply chain - from forest to factory and fuel.

It is thought that his will boost the local economy on the Northern Peninsula.