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

Ring of Fire News – August 25, 2012

  • Municipal Leaders:  We Told Ontario We Need Help with Ring of Fire  “The city (of Thunder Bay) has taken another step toward being Ring of Fire ready.  The massive chromite in Northern Ontario is expected to bring an economic boom to the area. In an effort to be ready for that boom, the city has prepared a Mining Readiness Strategy. But the strategy is meaningless if it doesn’t have provincial support.  Getting that provincial support was one of the city’s main goals as local delegates swarmed Ottawa this week for the Association of Municipalities Ontario conference. City councillors Joe Virdiramo, Ken Boshcoff, Brian McKinnon, Mayor Keith Hobbs and City Manager Tim Commisso attended the four-day conference, which started Sunday, to advocate for the city to provincial ministers.  Boshcoff is now calling the trip a success as it appears the city now has commitment from ministers that should help move the city’s mining strategy forward. Specifically, ministers were appointing administrators to oversee the development of the mining strategy.  “One of our goals was finding out who the point person for the minister of the mine readiness study was,” Boshcoff said.  “Each department assigns a senior public servant so we get answers quicker and they expedite what’s happening. The fact that so many departments made their commitments right away and others will be appointing someone in the near future is a great check list that we have that done.”  The strategy developed by the city focuses on specific areas such as creating a workforce, ensuring a mine has enough power and that Thunder Bay can handle the potential thousands of new residents ….  “  Sourcemoremore
  • New Nishnawbe Aski Nation Grand Chief:   First Nations want their voices heard, their fair share of revenue  “The newly-elected grand chief of the Nishnawbe Aski Nation will continue to work at creating more engagement with government when it comes to resource development.  During a press conference on Wednesday, Harvey Yesno said that chiefs in the NAN territory want a different approach to communicating with the government.  “Today things have changed,” Yesno said told the media. “The issue on the table is resource development that is happening in the communities but there is no meaningful engagement that is happening. We would like to see the governments walk and talk, and we want to participate in that.”  Yesno also spoke about creating a balance for all First Nations when it comes to revenue sharing.  On issues relating to land, Yesno emphasized that there needs to be consent and First Nations shouldn’t have to protest to protect their lands.  “We aren’t going to protest and just let things happen,” he said. “We have to protect it. Protest sometimes raises a voice, but most times things just go on. I think that’s the difference.”  Yesno was elected as NAN grand chief last week, defeating former deputy grand chief Terry Waboose by one vote, 22-21 in the secret-ballot vote. Yesno replaces Stan Beardy, who was recently elected as the Ontario Regional Chief ….”  Source
  • Another Company Flogging Good News from the Area  “MacDonald Mines Exploration Inc. (BMK.V) reported encouraging drilling results from its Butler volcanogenic massive sulphide property, located just 36 kilometres from the Big Daddy chromite deposit, in the “ring of fire” in the James Bay Lowlands area on northern Ontario.  Quentin Yarie, BMK’s Senior VP Exploration stated: “The drilling results and the follow-up borehole pulse electromagnetic surveys at Butler support our interpretation that this is a highly mineralized area. The mineralization is especially encouraging as it is typical for past and present producing Canadian districts.”  Some drilling results were released on the company’s website.  Shares in the company closed up 9% at 12 cents on Wednesday.”  Source
  • Analyst:  Time to Get Onto the Cliffs Bandwagon   “Time To Buy Cliffs Natural Resources: An Undervalued Dividend Stock – Cliffs Natural Resources Inc. (CLF) is a coal and iron ore mining company with mines in Alabama, Michigan, Minnesota, West Virginia, and parts of Canada. It also has mines located in Asia and Australia. In North America, CLF is by far the largest producer of iron ores. What’s most exciting for growth is CLF’s 30% stake in an iron ore project in Brazil and its increasing investment in renewable energy through acquisitions.  This company is extremely undervalued because of a recent bear rally starting in mid-April. At a price-to-book ratio of 1.02, it’s a steal. Investors get the chance to pay $1.02 for every $1 in assets that CLF holds. This essentially means they would be paying $0.02 for its business value. Compare this with the mining industry average price-to-book of 6.10, which means investors pay $6.10 for every dollar of assets a company owns …. “  Source
  • More on the Young Mining Film Makers  “Noront Resources, DAREarts, Engage Learn, and the Ontario Mining Association have partnered together to create a unique youth camp focused on combining geology, rocks and mining, with visual arts and film.   The Mining Movie Making Summer Camp (MMMYC) is a fun, hands-on, community based program that ignites aboriginal youth to share their stories of the rocks, minerals, environment and traditional territories with the rest of the world. After three days of hands on workshops led by a world class team of teachers from Noront, DAREarts and Engage Learn, the local youth work to collaborate and create their own aboriginal community video to submit as part of the So You Think You Know Mining competition (“SYTYKM”) hosted by The Ontario Mining Association (“OMA”) …. Over forty of Simon Jacob Memorial Education Centre’s youth participated in the MMMYC Webequie First Nation Camp. The children were highly engaged by the subject matter and the medium where they were able to visually express their personal stories through film. Jayda Sofea age 11 said, “I would want Mining Movie camp to happen again because it was fun to be on camera!!”   The participants’ video can be viewed at the following link: http://www.mikawaa.com/mikawaa-tv/viewvideo/183  ….” Sourcemore
  • (Not exactly Ring of Fire, but)  Calls for Mines Minister to Resign/Retire/Get Out  “At least two groups in northeastern Ontario are calling on the province’s northern development and mines minister, Rick Bartolucci, to resign or retire.  The North Bay Chamber of Commerce and the union representing Ontario Northland Transportation Commission workers have made the requests.  There are several reasons for the request to resign, including the sale of the ONTC, said John Strang, the president of the North Bay Chamber of Commerce.  “We believe that this issue is bigger than just the Northlander and the ONTC,” he said.  “We believe that it’s a hit at our way of life in northern Ontario. One of the frustrating points for us is that our tax dollars, northern Ontario’s tax dollars, continue to subsidize transportation in southern Ontario. You know, those numbers don’t come out and they’re not being brought out.”  Strang said the chamber plans to take its fight to the premier as well, saying the Liberal government has failed northern Ontario.  In response to commentary on CBC Sudbury’s Morning North program, Bartolucci’s spokesperson Laura Blondeau recently remarked on Twitter the Ontario Liberals have “opened Hwy 11, invested in [the] North Bay airport, built [a] North Bay [and] Mattawa Hospital [and] will continue to invest in [the] North.  Blondeau also tweeted the “ONTC train and bus compete against each other [and the] train runs below 50 per cent capacity. [The province’s] $400 subsidy per passenger [is] unsustainable.” ….”  Source

More open source information (excerpts from information monitored 1-24 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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