The financial loss from the massive fire that consumed the former Stimson Lumber Co., plywood plant last week had not yet been determined as of Monday.

“You have the actual property loss and you have the business loss,” said Paul Rumelhart, executive director of the Kootenai River Development Council, which manages the industrial site that the building rested on. “It’s going to be pretty significant when all is said and done.”

The 4.7-acre building was leveled Thursday night, burning up machinery, tools and business inventory. Though three-fourths of the structure was in the process of being torn down, a 54,000 square foot portion was leased by Revett Minerals to perform a truck-to-rail transfer of silver and copper concentrates from Troy Mine. An adjacent building about 4,000 square feet in size also burned, wiping out specialty business Wedge Wood Products.

Phil Spencer, co-owner of Wedge Wood Products, estimated the loss roughly at $250,000 on his uninsured business. In addition, he said the fire ate up about 10 unpatented machines that had taken him 15 years to engineer. He and business partner, Joel Chandler, had closed production over the winter to install new equipment and were ready to begin work on Monday.

“I feel a little bit wobbly from it all,” he said Friday. “March was going to be when we put people to work because we already had orders and the equipment and a good start on stock to produce.”

Four rail cars that Revett Minerals leased were destroyed and $500,000 worth of silver and copper concentrates remained on the ground in the smoldering rubble Friday. John Shanahan, Revett’s chief executive officer, said the material would have to be cleaned up before its shipment to a refinery. 

Terry Ward of T.L. Ward Trucking lost the majority of machinery he used to transport the ore from Troy Mine to the old mill site. He estimates his loss at $150,000, including a dump truck, end loader, end dump pup trailer and a street sweeper.

With the help of fire crews the company performing the demolition, J.T. Welding and Construction, was able to save a front end loader, Rumelhart said, but the business lost an excavator and other equipment and machinery.

KRDC also lost a boom truck, he said.

The industrial district will be facing a long-term financial burden, as well, according to Rumelhart.

“Then we have a new demolition/removal cost,” Rumelhart said. “That cost is going to set in.”