Ring of Fire News

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Ring of Fire News – 4 Jun 12

  • Noront confirms another look at its plans in light of Ontario (sorta) supporting a road into the Ring of Fire   “Noront Resources Ltd. advises that in response to recent announcements by the Government of Ontario and Cliffs Natural Resources (“Cliffs”) regarding the proposed location of a ferrochrome smelting facility in Sudbury and road access to the Ring of Fire, the Company has decided to evaluate the impact of these announcements prior to issuing the Feasibility Study for it’s Eagle’s Nest Project.  President and CEO Wes Hanson states: “ The Company views the announcements by Cliffs and the Government of Ontario on May 9, 2012 as a very positive development in unlocking the vast mineral wealth identified in the Ring of Fire district of Ontario. In order to evaluate the potential benefits to our shareholders, the Company has decided to delay issuing the Feasibility Study for our flagship Eagle’s Nest nickel sulphide deposit. The commitment, by both parties, to a north south access route and the timing highlighted in the announcements, warrant a thorough review to evaluate the potential impact to our planned development of the Eagle’s Nest deposit.” ….”  Source (company news release)  – More (from the In Support of Mining blog, which broke the story)moremoremore
  • Another company paying off its slice of the Ring of Fire pie  “Bold Ventures Inc. (“Bold Ventures” or the “Company”) …. The Company also wishes to advise that it has settled $38,122.14 relating to a finders’ fee through the issuance of 544,602 warrants to purchase common shares at $0.14 per share until May 23, 2014. The warrants (and any common shares issue on the exercise of the warrants) are subject to a re-sale restriction until September 29, 2012. The finders’ fee was paid to IBK Capital Corp. and Dundee Securities Ltd. as a result of the expenditure by 2282726 Ontario Ltd., a wholly owned subsidiary of Dundee Corporation, in the aggregate amount of $1,906,107 on the Company’s properties in the Ring of Fire. Please refer to …. a press release issued by Rencore Resources Ltd. on May 31, 2011 for further particulars ….”  Source
  • Aroland, two other First Nations hold May 30 community meeting  “We are having a follow up meeting regarding the “Ring of Fire” and our community impacts to the project.  We will have 2 outside communities joining us to hear what our community concerns are so come out and share.  We would like any elders or Land Users (Trappers/ Hunter/ Fisherman) who have some knowledge of the areas that will be impacted to come out as well and assist the community with the testing of our Documentation of the affected areas …. We will be serving supper at 6:00 pm so be there to eat and share knowledge/concerns – It is very important to get as many community members out as possible so we can both get ready for this development and show the other communities what we are concerned about ….”  Source
  • Editorial:  Time for everyone to work together on the Ring of Fire  “There is an amazing opportunity to embrace nation-building and put aside political differences. The Ring of Fire is waiting for us …. Since its earliest days of discovery it should have been more than clear to everybody that every level of government needs to come to the table. First Nations spokespeople are already complaining that they were not properly consulted.  After so many ridiculous standoffs, after so many ruined projects, can it truly be said we have not consulted our aboriginal neighbours before we go tramping through land they believe is their ancestral territory? What might be said is that consultation did take place which led to disagreement. It is hard to imagine that there was no consultation.  Do we want a brighter economic future? Do First Nations chiefs want a better way of life for their communities? Do we all understand that it accomplishes nothing to focus on past wrongs and put roadblocks to the future?  Let’s all put the posturing aside. Get on with this project as partners. There are enough riches and victories in this for all. A lot of people are waiting for someone to stand up and be a leader here. The future of the North depends on it. The future of Northern First Nations communities depends on it.  This is not just a mine. This is an opportunity to build a stronger nation.”  Source
  • National Post column:  training dollars only part of the answer  “…. Ontario has an unemployment rate of 7.8%, but 22.6% of natives on reserve are on income assistance. Dalton McGuinty, the Ontario Premier, called last week for more federal help to upgrade skill levels for First Nations to kick-start the development of the Ring of Fire area in northern Ontario.  Yet it’s not as if training is not already available. The Human Resources and Skills Development website has an alphabet spaghetti of training programs – the Aboriginal Skills and Employment Training Strategy, the Aboriginal Skills and Employment Partnership, the Skills and Partnership Fund and so on. In addition, companies keen to hire aboriginal workers often pay for their own training. When De Beers established the $1-billion Victor diamond mine in northern Ontario, it set aside $10-million for skills training for natives from the nearby Attawapiskat reserve, only to find the numbers involved were far fewer than anticipated.  Perhaps those programs are badly tailored to their target market. But there may be a more elementary reason why take-up is low.  As with the overly generous Employment Insurance regime, the federal government provides a range of welfare programs for natives on reserve, with little enforcement when it comes to accepting work that is often available in more accessible reserves. There are 1,200 aboriginal communities within 200km of producing mines or exploratory properties and, while the numbers of native workers is increasing, there are still jobs unfilled.  This is not to suggest natives on reserve are any more lazy than any other sector of society – just that they have more opportunity to smack the government piñata and watch the money fall out ….”  Source
  • New federal NDP mining critic named  “Nickel Belt MP Claude Gravelle has been tasked with the responsibilities of the NDP’s mining critic, NDP Leader Tom Mulcair has announced.  “I am honoured with Tom’s appointment and know it fits perfectly with my own priorities, and, more importantly, those of our northern Ontario communities,” Gravelle said in a press release.  In the last Parliament, Gravelle worked on a national mining strategy that addressed jobs, foreign takeovers, miner safety and environmental concerns.  “Since that work, we now have many new MPs and that strategy needs to be updated, especially with the anticipated mining boom across the country and right here in northern Ontario.”  …. Mulcair has asked Gravelle to work closely with Natural Resources and Energy critic Peter Julian, according to the news release.  Gravelle is a member of Parliament’s Natural Resources committee. During the party leadership race, he was interim natural resources critic. Before his election in 2008, Gravelle worked 34 years for Inco Mines as a machinist.”  Source

More open source information (excerpts from information monitored 17-30 May 12 (30 page PDF) here. All information shared here in accordance with the Fair Dealing provisions (§29) of the Copyright Act. The blog is not responsible for the accuracy of the source material, and inclusion of material doesn’t mean endorsement.

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