Chemtrade has entered into a non-binding letter of intent with the Vancouver Fraser Port Authority (Port of Vancouver) to extend its land lease until December 31, 2044.

The land lease covers a portion of the site and will be on similar terms to the existing lease, including a restriction on the receipt, manufacture, storage and distribution of liquid chlorine commencing July 1, 2030. The remaining portion of the site is owned by Chemtrade.

Chemtrade is preparing the requisite materials to submit, as soon as possible, an application for rezoning to the District of North Vancouver.

If the rezoning application is approved, Chemtrade will be able to continue producing liquid chlorine on the owned portion of the site and to implement several safety-enhancing capital improvements.

Scott Rook, President and CEO of Chemtrade said, “We have been in discussions with the Port of Vancouver and the District of North Vancouver to secure a pathway to continued operations of this strategic asset. We are pleased to provide a progress report on our North Vancouver facility, which plays such a critical role in supplying millions of Canadians with clean drinking water. Liquid chlorine is used to treat municipal drinking water, and we estimate that our plant provides over 70 per cent of the liquid chlorine available in Western Canada (BC and Alberta).”

The letter of intent with the Port of Vancouver is non-binding. There is no guarantee that the parties will enter into a new lease and the current lease expires on June 30, 2032.