First Nations take ownership stake in Hornepayne sawmill, co-gen plant

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First Nations take ownership stake in Hornepayne sawmill, co-gen plant

Northeast chiefs plant $4 million investment in forestry

(As published in Northern Ontario Business)

An alliance of three First Nation communities in northeastern Ontario is taking a 30 per cent stake in a Hornepayne dimensional lumber mill and co-generation plant.

The newly formed Northeast Superior First Nation Investment LP has finalized a deal to be a partner in Hornepayne Lumber and Hornepayne Power. The group is delivering a $4 million equity investment in the two ventures.

The group consists of the Missanabie Cree, Chapleau Cree and Netamisakomik Anishinabek (Pic Mobert) First Nation.

A memorandum of agreement was signed with the mill’s principal owner, Frank Dottori, back in July. The deal was finalized Nov. 29 at a ceremony in Hornepayne…. (read the rest of the story online at Northern Ontario Business)

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