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Ring of Fire News – January 24, 2014

  • You’d Think There’s a Provincial Election Coming, or Something ….  Poor planning by Ontario’s governing Liberals has played a major role in the problems plaguing the development of the Ring of Fire, the leader of the province’s New Democrats said in Sudbury this week.  “The Liberals were doing a lot of announcements, a lot of ribbon cutting and making a lot of hay, but weren’t doing the behind-the-scenes work that needed to be done to keep that Cliffs promise alive,” Andrea Horwath said Wednesday, after she toured Stack Brewing with Sudbury NDP candidate Joe Cimino.  Development of the vast chromite deposits in the Ring stalled in 2013, with Cliffs Natural Resources announcing it was suspending work because of a series of delays in getting environmental assessments and determining exactly how ore will be transported from the remote site in northwestern Ontario …. Horwath said these problems can be traced to the Liberal’s failure to come up with coherent policies on how mining and other resource development in remote parts of Ontario should work.  “We’ve been critical for a long time of the way the government approaches mining in the North — and the Far North in particular,” Horwath said …. When asked what an NDP government would do to get the Ring back on track, Horwath said they would look at what other provinces have done to develop similar projects. In particular, she praised Plan Nord, Quebec’s policy for resource development in the remote areas of the province. Created with the James Bay Cree, it covers details of how all manner of natural resources development in the Far North should proceed ….”
  • Cliffs Natural Resources (CLF) was down again on Tuesday, January 21st, mostly due to the report from Goldman Sachs indicating that, in their opinion, “the sunset of the Iron Age starts in 2014.” As a result they changed their projected price for Iron Ore to about $108 for 2014 and a projected decline of $80 for 2015. Naturally, the price of CLF’s stock dropped quite quickly with The Street marking CLF as a roof leaker. Just a week ago, Jim Cramer had spoken of CLF in his 6 stocks in 60 seconds, indicating that the stock might be a good buy if its restructuring plan had worked. Cramer’s assessment was simply a reiteration of the Deutsche Bank upgrade which had occurred earlier that day (January 14th).  Others within the research/analysis business are not quite so negative with respect to the future demand for Iron Ore. Macquarie estimates that the price of Iron Ore will be around $115 to $120 by year’s end. They also seem to indicate that the early 2014 issues currently being experienced with respect to Iron Ore and the Asia-Pacific market will dissipate by the end of the year.  So what should an investor in Cliffs do? ….” – more on Cliffs’ fortunes on the markets here, here, here, here and here
  • What a Former Noront-ite Is Now Up To  Superior Copper Corporation announces proposed changes to the directors and senior officers of Superior Copper. In order to undertake a robust exploration and drilling program at its Coppercorp Project (Ontario), the Company has recruited a team with extensive experience in the exploration sector and in capital markets, with particular expertise in raising capital for junior mining exploration companies. The proposed incoming management includes Thomas Pladsen, Brent Peters, Christopher Irwin, and John D. Harvey, who have agreed to join the Corporation’s board of directors …. Mr. Harvey was Sr. VP of Exploration for Noranda Inc. from 1982 to 1994 and was more recently COO of Noront Resources Ltd. ….”
  • Let The Training Begin!  Twenty-one students who are Matawa First Nations community members commenced an 8-week Mining Readiness Program at classroom space offered by Kiikenomaga Kikenjigewen Employment & Training Services (KKETS) in Thunder Bay.  The program is being delivered by KKETS, the Matawa First Nations tribal council employment and training organization, in partnership with Confederation College through the Ring of Fire Aboriginal Training Alliance (RoFATA) initiative.  RoFATA has been in existence since July 2013 and has since provided four community-based deliveries of the Mining Readiness Program to four Matawa First Nations communities (Webequie First Nation, Eabametoong First Nation, Marten Falls First Nation, and Cosntance Lake First Nation) from October to December 2013.  This, however, is the first Thunder Bay-based delivery of any RoFATA programming, with all of these KKETS clients looking ahead to many exciting RoFATA mining training initiatives in 2014 ….”
  • Along the remote stretch of highway that connects this northern community to the rest the world, it’s easy to distinguish the haves from the have-nots.  The aboriginal groups who first inhabited this region once sold furs and fish, but clear-cutting and water pollution have put an end to that. About 400 of their descendants now live in the Long Lake No. 58 First Nation reserve, where the homes are dilapidated, about 70 percent of residents are unemployed, and there’s just one business — a gas station.  But now those on the reserve are poised to gain from a surge of investment to their area, following the discovery of a $50-billion mineral deposit that has been dubbed “The Ring of Fire.” It’s the biggest resource development Ontario has seen in more than a century, often referred to as “Canada’s next oil sands.” The prospect of a mining project fills people here with a mixture of anticipation and concern ….”
  • The Township of Pickle Lake is the host community for the Kenora District Municipal Association’s 2014 annual conference Feb. 6-8 …. The tentative agenda of guest speakers is subject to final confirmation; however, (Pickle Lake Mayor Roy) Hoffman confirmed Kenora MP Greg Rickford will attend and invitations have been extended to Kenora-Rainy River MPP Sarah Campbell and Lac Seul First Nation Chief Clifford Bull …. The theme of the 2014 conference is ‘Pioneering Opportunities’ and Friday’s program will continue the panel format introduced last year under the three principal areas of industrial/economic development in the Kenora district: mining, foresty and tourism.  The mining sector panel will feature speakers Scott Jacob, community relations manager for Noront Resources; Christine (Kaszycki), Ring of Fire secretariat, Ministry of Northern Development and Mines; and, Peter McBride of the Ontario Mining Association ….”
  • Hey, What About the “Not-Quite-So-North” North?   “The Arctic Frontiers conference underway this week in Tromso, Norway, has attracted more than 1,000 registrants from around the Circumpolar world. The turnout is further distinguished by the impressive roster of participants, from the prime ministers of Norway and Greenland, many of the most powerful cabinet ministers responsible for Arctic affairs, and hundreds of the world’s leading Arctic scientists and social scientists. Arctic Frontiers is a sign, if one were needed, that this is the age of the Arctic.  Beyond Prime Minister Stephen Harper’s continued interest in the far North, Canadians certainly share the global preoccupation with the circumpolar world. There are good reasons, given climate change, boundary disputes, the Arctic’s resource potential, political transitions underway across the region and the curious mix of opportunity and crisis that permeates the Arctic.  But something important is missing. The North below the North, the vast expanse of the sub-Arctic that lies in the northern reaches of the provinces, attracts no comparable interest. From Labrador through to northern British Columbia, the “forgotten North” is at once the powerhouse of the Canadian economy and one of the most marginalized and troubled parts of the country. Drawing attention to the unique challenges of the provincial North is not intended to divert attention from the serious problems affecting the sparsely populated territorial North. But the disparity in attention is more than passing strange …. the provincial North is one of the greatest drivers of Canadian prosperity. Labrador hosts the Voisey’s Bay mine and great hydro electric potential, as do the powerful rivers of Northern Quebec. Northern Ontario has seen a rapid expansion of mining activity, with the Ring of Fire development promising multi-billion-dollar returns to the struggling provincial economy ….”
  • Wanted:  Information Machine Boss for Ontario’s Ministry of Northern Development & Mines  “…. Consider a role where you can influence the communications of the Ministry’s vision for a northern Ontario economy and provincial minerals sector that are healthy, competitive and sustainable.  As the Director of the Communications Branch you will promote the economic opportunities and potential of the resource sectors in northern Ontario by directing the planning and delivery of communications activities.  Primary clients are the Minister’s Office, Cabinet Office and ministry divisions. Externally, the branch’s principal clients are northern media, specialty mining and forestry media, northern, mining and forestry stakeholders, Aboriginal communities, as well as the general public of northern Ontario across the province with respect to mining and forestry matters ….”
  • The government of British Columbia has been ordered to pay a forestry company $1.7 million for damages suffered during a blockade in 2006 and experts say other provinces, especially Ontario, should sit up and take notice …. – more on this 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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