Market diversification strategy will support transition of industrial assets to create jobs and bolster sector
‘Namgis First Nation, BC – A new initiative led by the ‘Namgis Business Development Corporation will support the transition of a former wood chip processing operation toward new, sustainable economic opportunities on Vancouver Island’s coast.
Atli Resources LP is partnering with Island Coastal Economic Trust to invest in a Market Diversification Exploration Strategy that will develop a preliminary business plan for alternative uses of its industrial site and infrastructure following the March 2026 closure of its operations in Beaver Cove near Port McNeill and Telegraph Cove.
“Rather than standing still after the closure of operations, we’re focusing on disciplined planning, partnerships, and innovation to assess how this asset can continue to contribute to the local economy,” said Gaby Wickstrom, Interim CEO, ‘Namgis Business Development Corp. “It’s about building on what already exists—skills, infrastructure, and relationships—to support a more diversified and resilient future for coastal forestry.”
The project responds to significant structural changes in B.C.’s forest sector, including the closure of the Domtar Crofton pulp mill, which reduced demand for coastal residual fibre and made existing operations no longer viable.
Despite this shift, Atli Resources retains key assets, including a fully permitted industrial site, fibre-handling infrastructure, access to coastal residual fibre, and access to a skilled workforce. The diversification strategy will assess new value-added opportunities that align with regional economic development priorities, climate transition goals, and Indigenous economic partnerships.
“This work reflects our responsibility to think long-term about our lands, our people, and our economy,” said ‘Namgis First Nation Chief Victor Isaac. “The closure of the Atli facility was difficult, but it also gives us the opportunity to step forward and shape a more resilient, sustainable future that reflects our values as ‘Namgis.”
The strategy will guide Atli Resources from closure toward informed reinvestment, focusing on regenerative forestry practices and utilization of low-value fibre and logging residuals.
“The ‘Namgis First Nation are taking a common sense, proactive approach that uses existing industrial zoned land and keeps skilled workers on the Island,” said North Island MLA Anna Kindy. “This is a strong step in the right direction. It will help grow the local economy and create opportunity for everyone.”
The Trust is partnering on the project through a $30,000 investment from the Investment Readiness funding program, under the Regenerative Forestry investment priority.
“The changes reshaping B.C.’s coastal forest sector demand new solutions, new partnerships, and a willingness to innovate,” said Brodie Guy, CEO of Island Coastal Economic Trust. “We’re proud to be partnering with ‘Namgis on this forward-looking initiative — it’s exactly the kind of leadership coastal communities need, particularly on northern Vancouver Island. Here at the Trust, we’re actively seeking opportunities to invest in regenerative forestry, and this project is a leading example of the resource-based innovation that will define the next chapter of our coastal economy.”
Findings from the strategy will help guide future decision-making about the site’s potential role in the coastal economy.
For more information visit: https://islandcoastaltrust.ca/project/investment-readiness-program/development-of-atli-chip-market-diversification/
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About Island Coastal Economic Trust
Island Coastal Economic Trust is the regional development organization founded by the Province of British Columbia under the North Island-Coast Development Initiative Trust Act to serve Vancouver Island and the surrounding coast. We partner with First Nations, local governments, businesses, and non-profits to drive prosperity and diversify the coastal economy through strategic economic investments. Over $406.5 million in direct new investment has been attracted to coastal B.C. through our partnerships since 2006. We believe that meaningful and lasting change is best achieved through strong, collaborative partnerships that unite people, communities, sectors, and resources. As we work toward inclusive and resilient economic futures, we do so with a deep appreciation for the histories, contributions, and rights of the Kwak̓wala/Bakwam’kala, Nuučaa̓nuɫ, Éy7á7juuthem, Ligwilda’xw, Pəntl’áč, She shashishalhem, Hul’q’umi’num’, diitiidʔaatx̣, SENĆOŦEN, Skwxwú7mesh, Lekwungen, and T’Sou-ke speaking peoples.
The Trust’s mandate has been to support economic diversification and growth across Vancouver Island, the Sunshine Coast, and islands and inlets from the Salish Sea to Cape Caution (see Our Region). Serving more than half a million residents, the Trust partners with communities in the development and financing of their economic infrastructure and diversification efforts through a unique structure that is led by and accountable to communities.
Media Contacts:
Kyle Wells
Manager, Communications and Impact
Island Coastal Economic Trust
kyle@islandcoastaltrust.ca
250-871-7797
Jonathan Lok, RFT
CEO
Atli Resources LP
jonathan.w.lok@gmail.com
250-230-0506
