Ring of Fire News


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Ring of Fire News – July 4, 2013

  • In case you hadn’t already heard, former Supreme Court Justice Frank Iacobucci has been named as Ontario’s Ring of Fire negotiator.
  • Noront Resources Ltd. is pleased to acknowledge the appointment of former Supreme Court Justice Frank Iacobucci as lead negotiator on behalf of the Province of Ontario in its discussions with Chiefs of the Matawa Tribal Council on resource development in the Ring of Fire.  “Mr. Iacobucci is a highly-respected and experienced negotiator who has worked successfully with First Nations communities in the past. We look forward to his counsel and collaboration as we move ahead on this very exciting opportunity for the region,” stated Noront Chairman and Interim CEO Paul Parisotto. “Having the right conversations is essential for successful development in the Ring of Fire. We are eager to see a workable infrastructure solution that will allow us to bring our mine into production, and we have been collaborating with local First Nations throughout our own Environmental Assessment process to help make that happen.” ….”
  • Big money for Iacobucci and Rae?  Ontario taxpayers are footing a bill in the hundreds of thousands of dollars for negotiations on the future development of the Ring of Fire region, and one First Nations policy analyst sees it as money poorly spent.  Former Supreme Court Justice Frank Iacobucci and former Liberal MP Bob Rae are being paid by the province to work out a mining deal between the province and nine First Nations, closest to the mineral reserves.  But First Nations policy analyst Russell Diabo said that expense could be spared if governments imposed mining rules that respect treaty rights.  “So there are ways to streamline it if the political will is there. But often the economic interests are so great that they want to subjugate First Nations interests and make it complicated where they can,” Diabo said …. Ontario’s Minister of Northern Development and Mines Michael Gravelle wouldn’t give an exact figure, but he told CBC News the budget for the salaries of the two negotiators is in the hundreds of thousands of dollars.”
  • Nishnawbe Aski Nation:  We want to be consulted with, too  “…. the Nishnawbe Aski Nation says it needs a seat at the table too.  “This is not just a specific regional project, in fact it is a treaty-wide impact and I think that’s what the province needs to recognize,” NAN deputy chief Les Louttit. “We would like to see a broader negotiation framework.” …. “We cannot simply keep going the way we have in the past,” Louttit said. “We know that because we were involved in the Debeers Victor project negotiations.”  The deputy grand chief said he’d welcome a phone call from Iacobucci as a starting point for including the Nishnawbe Aski Nation in the negotiations for the Ring of Fire ….” – more on this here
  • “KWG Resources Inc. has completed a first tranche of a private placement of flow-through units, for proceeds of $300,000. Each unit comprises one flow-through treasury share and one warrant which may be exercised to acquire a further flow-through share for $0.10 at any time within three years. The units may be acquired by qualified investors for a subscription of $0.05 each. The TSX Venture Exchange has conditionally approved the listing of shares resulting from placements for subscriptions totaling $2 million.  The terms of the placement were negotiated with a registrant for subscription by its institutional and individual clients who subsequently failed to close and following which individual accredited investors, including the Company’s CEO, completed this first tranche of the private placement. The balance of the placement is being made available to other accredited investors ….”

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