Estimated 90 per cent of KIPT trees no longer productive following fire
An estimated 90 per cent of Kangaroo Island Plantation Timbers’ trees are no longer productive following the KI bushfire.
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Satellite imagery has given Kangaroo Island Plantation Timbers a clearer picture of the extent of the KI bushfire damage, with an estimated 90 per cent of the company’s trees no longer productive.
In a statement to the ASX today, the company said that in addition to on-ground assessments, it now had access to satellite imagery that enabled its contract forestry manager PF Olsen to classify fire-affected plantations according to the severity of damage.
The company estimates that only 5 per cent of its treecrop has not been fire-affected, with a further 5 per cent having only minor canopy damage.
About 15,000 hectares of plantations will need to be felled in order to return the land to production, which includes the treecrops of independent growers.
The company said the task was urgent, as timber quality deteriorates with time, even when stockpiled under ideal conditions.
KIPT is continuing to push for a deepwater wharf at Smith Bay, saying the proposed seaport would be essential to enable the removal and sale of trees that would otherwise need to be chain-felled and completely burnt in situ – a costly process that would take several years.
Shares in KIPT remain voluntarily suspended from trading.