Ring of Fire News


What's up with the biggest thing happening in mining in NW Ontario?

Ring of Fire News – August 18, 2012

  • From Ring of Fire Co-ordinator Office Official to to Nishnawbe Aski Nation Grand Chief  “Harvey Yesno has been elected new Grand Chief of Nishnawbe Aski Nation (NAN).  Yesno won by one vote over Terry Waboose on the third ballot. Yesno received 22 votes to Waboose’s 21 votes.  In his victory speech, Yesno stressed the importance of unity amongst communities and chiefs.  “We need to be united,” Yesno said. “There’s no way to do it otherwise. We need all of you to stand together, so that our children will have something to look forward to in the future.”  Yesno replaces former grand chief Stan Beardy, who stepped down in June after being elected Regional Chief of Ontario.   Prior to being elected, Yesno served as the Ontario government’s director for Aboriginal and Community relations for the Ring of Fire.  He has previously been the executive director of the Nishnawbe Aski Development Fund, served as chief of Eabametoong First Nation for five terms. He was also involved with Grand Council Treaty No. 9, which later became Nishnawbe Aski Nation, in the late 1970s and early 1980s ….”  SourceMore (Nishnawbe Aski Nation news release)  – more (from the In Support of Mining blog) – more (AFN news release) – moremoremoremore (pre-election editorial)
  • Mining Conference Sharing Ring of Fire Info  “If you’re looking for opportunity in Ontario’s Ring of Fire, you’ll want to check out the 2012 Mining Ready Summit scheduled for October in Thunder Bay.  Hosted by Nishnawbe Aski Development Fund, this second annual conference is expected to draw more than 300 industry leaders, contractors, mining related service providers, First Nation communities and Aboriginal business owners for discussions and presentations around the theme “Preparing Aboriginal Communities for Mining Related Business Opportunities.”  According to organizers, the 2012 program has been designed “to ensure a fulfilling experience for participants interested in bringing new knowledge, evidence, lessons learned and best practice into the mining sequence and associated business opportunities for Aboriginal communities and industry.”  One agenda item of particular interest for potential suppliers is a presentation on Bidding on Mining Contracts from Joe Gaboury, Director First Nations Relations for Cliffs Natural Resources.  Although his presentation is yet to be confirmed, Gaboury promises to reveal:  What First Nation companies must know when bidding for mineral exploration or mining related contracts, and  What non First Nation companies must know when bidding for mineral exploration or mining related contracts that are associated by Impact and Benefit Agreements and other agreements with First Nations ….”  Source (In Support of Mining blog) – More (2012 Mining Ready Summit “Preparing Aboriginal Communities for Mining Related Business Opportunities”  October 23 & 24, 2012 Valhalla Inn, Thunder Bay, ON conference page) – conference agenda (alternate download site)
  • Detailed Two-part Feature in the Sudbury Star on Cliffs’ Black Thor Project, Associated Issues   Part 1 (11 Aug 12)   – Part 2 (13 Aug 12)
  • “Friends of Neskantaga” Has a Web Page Again (more on their last attempt here)    “We will fight in the courts, we will fight on the Attawapiskat River, we shall defend our land and waters, whatever the cost may be. We will never surrender.  1. Deciding What Happens On Our Lands – We have the right to decide what happens on our lands.  2. Speaking for Ourselves – We have the right to know what changes the Cliffs, and other projects in the Ring of Fire, will bring to the land, waters and our way of life.  A Negotiated Environmental Assessment – We need to clearly understand the changes that the development of the Ring of Fire region will bring to the environment, our culture and way of life. The current Environmental Assessment process is a generic public process with no distinct or government-to-government engagement with the First Nations that will be affected by the proposed projects. We need a negotiated First Nations/Ontario/Canada environmental review process that is fair to our communities and ensures that potential impacts are fully and thoroughly considered before any project decisions are made. All who have something to say should be given an opportunity to speak and have their say in our own language, in our own communities.  3. Our Fair Share – We have the right to benefit, if after a full and thorough environmental assessment, we decide that the project is compatible with the Neskantaga goals and aspirations for our land.  A Framework for Benefits Revenue Sharing – Ontario has already agreed in principle that First Nations must to share fairly in the benefits of natural resource development in the Ring of Fire. In order for our communities to support the Ring of Fire, Canada and Ontario must make a serious financial commitment to address the social and economic disparities of our communities, and not just offer to train workers ….”  Source (web page) – more (screen capture of page on 14 Aug 12)
  • Municipal Officials to Press Provincial Reps on Ring of Fire  “Mining and energy will be at the top of the agenda when “Northwestern Ontario municipal representatives meet with various provincial ministers at a conference in Ottawa next week.  Several representatives of Thunder Bay and the region will be in Ottawa for the annual Association of Ontario Municipalities conference, which runs from Sunday to Wednesday. While there, participants will have a chance to meet with several Ontario government representatives — including Premier Dalton McGuinty, opposition leader Tim Hudak, NDP leader Andrea Horwath, and provincial ministers — to discuss various issues.  leven Northwestern Ontario Municipal Association (NOMA) board members are making the trip, including Thunder Bay Mayor Keith Hobbs, city manager Tim Commisso and Coun. Joe Virdiramo. Also on hand will be NOMA president Ron Nelson, representatives of Fort William First Nation, and Red Lake Mayor Phil Vinet.  We’ve . . . got a broad range from all the districts,” said NOMA executive director Charla Robinson. “We’re meeting with ministers Tuesday morning, and we’re meeting with the opposition parties on Monday.  Our big issue . . . is mining, and all of the development the province needs to do to make sure that this opportunity can go forward,” she said. “The province needs to get the transportation infrastructure sorted out, they need to get moving on that. The province needs to be aware of the significant energy requirements — not just in the Ring of Fire but across the whole region — to power all the mining growth that we’ve got happening.  “If a mine doesn’t have enough power, or doesn’t have a road to get there, it’s kinda hard to do anything.”  Those things fall under provincial jurisdiction, as do the training programs required to staff the mining industry as it grows, Robinson said ….”  Source
  • More Eyes on Cliffs  “Research analysts at Morgan Stanley assumed coverage on shares of Cliffs Natural Resources in a report released on Thursday. The firm set an “equal weight” rating on the stock.  Shares of Cliffs Natural Resources opened at 41.61 on Thursday. Cliffs Natural Resources has a 52 week low of $36.06 and a 52 week high of $85.64. The company has a market cap of $5.929 billion and a P/E ratio of 4.20.  Cliffs Natural Resources last announced its earnings results on Wednesday, July 25th. The company reported $1.81 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $1.81. The company’s quarterly revenue was down 10.0% on a year-over-year basis. On average, analysts predict that Cliffs Natural Resources will post $6.35 earnings per share for the current fiscal year ….”  Source

More open source information (excerpts from information monitored 1-17 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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