Released on September 12, 2024
The Government of Saskatchewan announced today that it has allocated nearly 1.2 million cubic metres of timber to Saskatchewan-based company One Sky Forest Products - setting the stage for the company to open an oriented strand board (OSB) mill in Prince Albert.
One Sky plans to begin construction on the $400 million plant in 2025 and open it in 2027, creating an estimated 800 direct and indirect jobs. Indigenous Forestry Investments (IFI) will partner with One Sky on this project.
"In Saskatchewan's Growth Plan,the Government of Saskatchewan set the target of doubling the size of the forestry sector by 2030 and encouraging increased Indigenous participation," Premier Scott Moe said. "This allocation positions the industry to meet that growth target, working with Indigenous businesses and creating jobs for northern residents, further protecting and promoting Saskatchewan."
One Sky was formed in 2020 by Montreal Lake Business Ventures, Meadow Lake Tribal Council, Big River First Nation and Tatanka Oyate Holdings, who brought in industry shareholder, Peak Renewables Ltd., a British Columbia forest products company.
"Thanks to the allocation of timber from the Saskatchewan government, One Sky is pleased to proceed with our OSB project in Prince Albert," One Sky Forest Products Chairman Brian Fehr said. "We have work left to do before we can start construction and look forward to continuing to advance this project with our Indigenous partners, the community of Prince Albert, and the Government of Saskatchewan."
One Sky's four Indigenous shareholders formed IFI to provide one unified voice for the Indigenous shareholders and the communities they represent, as well as provide clarity when seeking additional investors.
"Ownership means we will benefit from the wealth generated, create careers for our people, and involve our businesses in the supply chain," Indigenous Forestry Investments Board of Directors Chair Gary Daniels said.
OSB is a versatile engineered wood panel, which is similar in strength and performance to plywood and is commonly used in home construction for roof, wall and floor sheathing.
Saskatchewan leads the country in Indigenous participation in the forestry sector. Currently 32 per cent of the province's timber supply is allocated to Indigenous companies - by far the highest percentage in Canada. And 27 per cent of the forestry sector workforce is Indigenous - again by far the highest percentage in Canada.
More than half of Saskatchewan is covered in forests, with 97 per cent of those on provincial Crown land. The forestry sector currently supports nearly 8,000 direct and indirect jobs and is the second largest industry in the north after mining.
The Government of Saskatchewan is committed to the sustainable management of Crown forests and works with communities and industry to ensure the sustainability of forestry projects and operations. Sound forest management practices make both economic and environmental sense, protecting the long-term health of forest ecosystems and the industries that depend on them.
For more information about forestry in Saskatchewan visit: Forestry | Agriculture, Natural Resources and Industry | Government of Saskatchewan.
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