The Newfoundland and Labrador government has confirmed the extension of its power purchase agreement with Corner Brook Pulp and Paper until June 2027. This agreement, which began in February 2024, aims to provide stability while Kruger, the mill's owner, develops a $700 million diversification strategy. The strategy is intended to modernize operations and shift away from the declining newsprint sector. Currently, the mill employs approximately 400 people, although only one paper machine will be operational moving forward. The agreement includes the purchase of around 280,000 megawatts of power at a rate of 18 cents per kilowatt hour, significantly higher than alternative sources. Forestry Minister Pleaman Forsey expressed the province's commitment to maintaining employment in the forestry sector, highlighting the mill's historical significance since its establishment in 1925. Kruger has indicated that further details on their plans will be shared publicly in the coming weeks, as they continue to assess their future direction.