Ridley Terminals Inc., a coal export terminal, is a Crown corporation based on the North Coast of B.C. (Shannon Lough / The Northern View)

Ridley Terminals Inc., a coal export terminal, is a Crown corporation based on the North Coast of B.C. (Shannon Lough / The Northern View)

Metlakatla, Lax Kw’alaams to receive 10 per cent stake in Ridley Terminal sale

Sale of RTI coal terminal expected to be completed by summer 2019

Ridley Terminals Inc. is officially up for public sale, and the Lax Kw’alaams Band and Metlakatla First Nation will share in the profits.

A Nov. 5 letter from the Canadian Development Investment Corporation (CDEV) states that it has been mandated by the federal government to find a buyer for Ridley Terminals, who will receive a 90 percent stake in the company.

The remaining 10 per cent will be owned either directly or indirectly by Lax Kw’alaams and Metlakatla.

READ MORE: Government plans to sell Ridley Terminals this fall

CDEV has already written letters to potential buyers informing them of the sale. Interested parties may request non-disclosure agreements, and, if signed, will be able to submit a non-binding proposal for the purchase of RTI. CDEV will select a shortlist of potential purchasers based on these proposals.

In the second phase of the process, finalists in the process will be granted access to more detailed and confidential information about RTI, and will be given opportunities to meet with RTI’s management team, Lax Kw’alaams Band and Metlakatla First Nation. They will also be able to visit the site itself.

Following this second phase, shortlisted candidates will be asked to submit final offers to CDEV, which will make a final recommendation to the federal government.

The sale is expected to be completed by the summer of 2019.

On Aug. 9, the federal government announced that it was discussing a potential sale of RTI with six First Nations in the region. This development followed a profitable year by the coal terminal, which recorded revenues of $178-million in 2017, which was a 192.5 per cent increase from 2016.

The terminal was previously up for sale in Dec. 2012.

READ MORE: Report finds failures in governance at Ridley Terminals



newsroom@thenorthernview.com

Like us on Facebook and follow us on Twitter

Lax Kw'alaamsMetlakatlaRidley Terminals

Just Posted

It doesn’t matter where or how you received a COVID-19 vaccination, to receive the second immunization everyone must register on the ‘Get Vaccinated’ system health officials said, on May 11. While numbers are down Prince Rupert has not yet ‘zero’ cases as of numbers reported for May 2nd to 8th. (Image: BCCDC)
Prince Rupert still not at ‘zero’ COVID-19 cases

For second immunizations everyone in Prince Rupert and region must register, health officials said

Food programs such as the BC Fruit and Veggies program are important to student learning and students would be at a loss without them, Jeremy Janz principal of Pacific Coast School said, on May 13. Full tummies are the best way to start the day for Prince Rupert students, Natalia White (11) and Nikisha Johnson (12) who attended the official launch of the Breakfast Club of Canada program at PRMS on Feb. 25, 2020. (Photo: K-J Millar/The Northern View)
School fruits and veggies may be cut, said BC Liberals

P.R. students healthy food knowledge grew from the BC School Fruit and Vegetable Nutritional program

Gabriel Bureau president of the Prince Rupert Teachers union said on May 13 that SD 52 52 announced teacher lay-offs has broken the trust. (Photo:K-J Millar/The Northern View)
Teacher job losses are unnecessary, lay-off notices may be issued today, says PRDTU

Prince Rupert District Teachers Union says trust has been broken

Courtnay Girbav has been creating a little magic along the McClymont Trail in April with the initiation of a memorial fairy garden. The garden’s golden Buddha was recently found to be missing on May 2. (Photo: K-J Millar/The Northern View)
Fairy garden magic along McClymont Trail

An enchanted garden created in memory of a deceased friend has golden statue stolen

Prince Rupert Regional Airport is on track for flights to resume to the local airport on June 23. New airport federal funding was announced on May 11 to assist with COVID-19 recovery.  (Northern View file photo)
New federal airport funding takes off

Flights on track to resume June 23 at Prince Rupert Regional Airport

Daily confirmed COVID-19 cases reported to B.C. public health, seven-day rolling average in white, to May 12, 2021. (B.C. Centre for Disease Control)
B.C. preparing ‘Restart 2.0’ from COVID-19 as June approaches

Daily infections fall below 500 Friday, down to 387 in hospital

On Friday, May 14 at Meadow Gardens Golf Club in Pitt Meadows, Michael Caan joined a very elite club of golfers who have shot under 60 (Instagram)
Crowds at English Bay were blasted with a large beam of light from an RCMP Air-1 helicopter on Friday, May 14. THE CANADIAN PRESS/Marc Grandmaison
Police enlist RCMP helicopter to disperse thousands crowded on Vancouver beach

On Friday night, police were witness to ‘several thousand people staying well into the evening’

People shop in Chinatown in Vancouver on Friday, February 5, 2021. THE CANADIAN PRESS/Jonathan Hayward
Vancouver community leaders call for action following 717% rise in anti-Asian hate crimes

‘The alarming rise of anti-Asian hate in Canada and south of the border shows Asians have not been fully accepted in North America,’ says Carol Lee

Sinikka Gay Elliott was reported missing on Salt Spring Island on Wednesday, May 12. (Courtesty Salt Spring RCMP)
Body of UBC professor found on Salt Spring Island, no foul play suspected

Sinikka Elliott taught sociology at the university

The first Black judge named to the BC Supreme Court, Selwyn Romilly, was handcuffed at 9:15 a.m. May 14 while walking along the seawall. (YouTube/Screen grab)
Police apologize after wrongly arresting B.C.’s first Black Supreme Court Justice

At 81 years old, the retired judge was handcuffed in public while out for a walk Friday morning

Dr. Steve Beerman, of Nanaimo, shows off his Dr. David Bishop Gold Medal, awarded for distinguished medical service. (Karl Yu/News Bulletin)
Queen presents Vancouver Island doctor with award for global drowning prevention

Dr. Steve Beerman receives Royal Life Saving Society’s King Edward VII Cup at virtual ceremony

Former UFV Cascades wrestling coach Arjan Singh Bhullar is now the ONE heavyweight champion after defeating Brandon Vera via TKO in round two on Saturday in Singapore. (ONE Championship)
Former UFV wrestling coach wins MMA championship

Arjan Singh Bhullar captures ONE heavyweight title, first Indian origin fighter to achieve honour

Astra Zeneca vaccine waits for injection in a Feb. 3, 2021 file photo. A Langley man has become the second B.C. resident to suffer a blood clot following an injection. (AP Photo/Frank Augstein)
B.C. man required emergency surgery after AstraZeneca vaccination

Shaun Mulldoon suffered ‘massive blood clot’ after jab

Most Read