In another blow to B.C.’s forestry sector, Canfor announced it is shutting down a pulp mill in Prince George.

The company announced the closure of the Northwood Pulp Mill on Tuesday, saying it would result in the loss of 300 jobs.

In a statement, Canfor said the pulp and paper industry continues to face significant challenges, as more production capacity worldwide has put downward pressure on prices.

It said that it resulted in unsustainable financial losses, leading it to the difficult decision.

Canfor said it is committed to providing severance for the workers and exploring opportunities to redeploy workers to other facilities while the mill winds down operations.

“Yesterday and the days ahead are going to be very tough for the people of Prince George,” B.C. Minister of Forests Ravi Parmar said on Wednesday.

“I’ve had an opportunity to speak to the mayor, to speak with [Unifor western regional director Gavin McGarrigle].

“I’m looking forward to speaking to the president of the local [union] today. No words I can use this morning … to describe how saddened I am to hear this news.”

Parmar said his government is doing what it can to support the pulp mills that continue to operate but says long-term, the province needs to move away from commodity pricing and towards higher-value manufactured goods.