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Ring of Fire News – August 11, 2012

  • Ontario’s Ring of Fire Co-ordinator:  Infrastructure discussions coming The coordinator of Ontario’s Ring of Fire Secretariat insists the province is committed to working with First Nations on establishing how the north will develop alongside the massive mining projects proposed for the Ring of Fire. In an interview with Wawatay News, Christine Kaszycki emphasized that the provincial government is thinking of long-term infrastructure needs as it analyzes how best to develop the Ring of Fire. Kaszycki said discussions between the province and First Nations on regional infrastructure planning will begin sometime in the next few months. “There are a number of initiatives Ontario has put on the table, including regional infrastructure planning and regional environmental monitoring, where the discussions need to include groups of communities,” Kaszycki said ….”  Source
  • Ontario’s Green Party on the Ring of Fire  “The Green Party of Ontario supports making First Nations “full partners” in the process of developing the Ring of Fire chromite deposit in northwestern Ontario, even though those leaders oppose building the facility’s chromite smelter in Sudbury.  Speaking in front of the Miner’s Heritage Memorial at Bell Park on Aug. 8, party leader Mike Schreiner said he’s aware that First Nations chiefs in the area – about 500 kilometres northeast of Thunder Bay – have made building the billion-dollar smelter in their area their primary condition for supporting the development.   Since Ohio-based Cliffs Natural Resources announced in May that Capreol will be the site for its smelter, tribal chiefs in the Ring of Fire area have said they will start issuing eviction notices to the mining company as part of a campaign to force Cliffs to change its mind.  However, Schreiner insists the fault lies with the Liberal government for not ensuring that all Ontarians – and First Nations in particular – will benefit from the Ring of Fire.  “We have one chance to do this right,” Schreiner said. “It’s essential that First Nations have the full economic benefit of this resource.” ….”  Sourcemore
  • Stock alert for Cliffs  “…. Cliffs Natural Resources has been selected by InvestorsObserver analysts as a stock that is an ideal candidate for a new covered call today. Buying the stock for $44.97 while simultaneously selling the October $44.00 call will result in a new position with a target return of 5.6 %. Based on recent prices, this position will cost about $41.67, which is also the trade’s breakeven point. At that level, this covered call has 7.3 % downside protection, while still providing a 5.6 % return in 71 days as long as CLF is above $44.00 on 10/20/2012. For comparison purposes only, this Cliffs Natural Resources covered call aims for an annualized return rate of 25.6 % ….”  Source
  • Budding film makers in Webequie First Nation  “@NorontResources 3h Mining Movie Making Camp in Webequie FN @engagelearn @dare_arts @OntMiningAssoc pic.twitter.com/n4chQ5iJ  Twitter postPoster
  • Ontario Conservative Party natural resources critic bashes lack o’ provincial work on the Ring of Fire  “…. MPP Laurie Scott (PC, Haliburton-Kawartha Lakes-Brock) visited Thunder Bay this week to get a better sense of the city. She said her riding faces some of the same challenges as those in Northern Ontario and wanted to learn more about the organizations and businesses in this area. Scott had sharp criticism for how the minority Liberal-led provincial government has handled development in the North and said the area has been an anchor for Ontario because of projects like the Ring of Fire. She added that Ontario hasn’t been giving those types of projects enough support. “There’s a great deal of frustration to say we got so much potential here that we can grow on,” Scott said. “We’ve had rough times but we’re ready to rebound. Enough talk from the Liberal government. Now let’s get some action.” …. the criticism seems ironic as Gravelle believes the PC’s own relationship with First Nations community has historically needed improvements. The Minister and local MPP said when the Progressive Conservative Party governed Ontario under the leadership of Mike Harris the relationship with First Nations was at an all-time low. He added that his own Liberal party has worked hard to build good relationships with First Nation communities. “We have worked closely with many organizations and certainly with First Nations,” Gravelle said ….”  Source
  • New cargo airline taking advantage of the Ring of Fire  “A new aviation entity with heavy-lift cargo capability is taking to the skies of Northern Ontario this fall. And the man behind the stick is a familiar face. Canadian aviation pioneer Frank Kelner of Thunder Bay has formed Cargo North, an investment group, that is poised to be on the front lines of mineral exploration and development in the Far North. The outfit has bought a Basler Turbo 67 (BT-67) and expects to have the aircraft in service for cargo and fuel hauls by early November …. With mineral development advancing in the Ring of Fire, Kelner said the opportunity to dive in was too good to pass up. “I’ve been watching up north for the last six, seven years and nobody’s got any heart and soul into keeping the customers happy, from what I can see. And my phone kept ringing all the time. In the old days, we always kept people happy, and we’ve done very well for ourselves.”  Kelner confirms he has some ventures cooked up with mining companies this winter that will leave any competitors behind in the dust. His group has also formed an operational alliance with Nakina Air Service and North Star Air which gives Cargo North access to key staging bases to be closer to their northerly clients ….”  Source
  • (Not in the Ring of Fire, but)  Quebec Cree ban uranium mining in Quebec’s north (after they agree to a new way to run things in the area)  “The James Bay Cree Nation (in Quebec) has declared a Permanent Moratorium on uranium exploration, uranium mining and uranium waste emplacement in Eeyou Istchee, the James Bay Cree territory. The permanent moratorium was enacted unanimously by the Annual Cree Nation General Assembly in Waskaganish. “The risks inherent in uranium exploration, mining, milling, refining and transport, and in radioactive and toxic uranium mining waste, are incompatible with our stewardship responsibilities in Eeyou Istchee,” the Resolution declares. “The Cree Nation is determined to protect our economies and way of life against the unique and grave threat posed by uranium mining and uranium waste, today and for thousands of years to come,” said Grand Chief Dr. Matthew Coon Come. “We are not opposed to sustainable and equitable mining and other industrial and resource development activities in Eeyou Istchee – but the toxic and radiation risks created by uranium mining and uranium waste are unique in scale and duration.” ….”  SourceText of declaration (PDF)  (P.S. – There’s also an election on in Quebec.)

More open source information (excerpts from information monitored 1-10 Aug 12 (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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