Mowi considering options following Government of Canada decision to phase out farms from one region - Mowi - Canada West

Mowi considering options following Government of Canada decision to phase out farms from one region

December 18, 2020

Mowi is considering its options after the December 17, 2020 press release announcing the Government of Canada decision to phase out salmon farming in the Discovery Islands area of British Columbia over the next 18 months. Given that the decision does not come into full effect until June 30, 2022 Mowi anticipates this will not impact its 2021 production.  However, this decision does come with significant consequences as the Discovery Islands presently represent 10000 – 12000 t of production or 30% of Mowi’s total production volume in British Columbia.

Mowi has 17 farm sites in the area, off the northwest coast of Vancouver Island, eight of which are currently stocked. The company has a total of 44 tenures in British Columbia.

The government decision requires all salmon farmers operating in the region to not stock new fish of any size in the relevant farms but allows them to grow fish already on the farms to market size and harvest them. All fish must be out of the farms by June 30, 2022.

In the coming days Mowi’s leadership team will consult with its team and partners in British Columbia, and from that develop a mitigation plan and revised strategy for its operations in Canada.