VICTORIA, BC -- Triton Logging Inc., which specializes in salvaging underwater logs, has won a 25-year concession from the parliament of Ghana to harvest submerged trees from the world's largest man-made lake.

Approval by Ghana's parliament on Nov. 30 was the final step in the agreement between the Government of Ghana, the Volta River Authority (FRAY) and Clark Sustainable Resource Developments Ltd. (CSRD), a wholly-owned subsidiary of Triton. The agreement grants exclusive rights to CSRD for the harvesting, processing and marketing of timber from 350,000 hectares (1,400 square miles) of the Volta Lake reservoir.

Triton President and CEO Peter Keyes, said, "This is an important project for the people of Ghana and our company. With this final endorsement, we are ready to commence the operational phase of the project."

The Volta Lake is the world’s largest man-made lake by area, with a surface of 8,515 square kilometers (3,861 square miles). It came into being with the construction of the Akosombo Dam in 1964, a 1020 megawatt hydroelectric project managed by the VRA. It supplies power to Ghana, and neighboring Togo and Benin.

Since last January, Triton said it has conducted detailed assessments of the submerged tropical hardwood forests that were left behind when the hydroelectric reservoir was created in 1965. The trees remain preserved in the fresh water.

Keyes said the company will use its SHARC Underwater Harvester, which uses a submarine with saws attached, that he said is well suited to the shallow-water environment of Volta Lake. "Our final testing at Triton's development facilities proved its capabilities," Keyes added. "We look forward to seeing it operating in Ghana."

Triton Logging, based in Victoria, BC, says there are an estimated 300 million trees submerged worldwide. It has invested $15 million on the Volta Lake logging project and expects to invest an additional $100 million over the next four years.>>


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