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Ring of Fire News – February 7, 2014

  • KWG, Bold back at ‘er  Bold Ventures Inc. and KWG Resources Inc. are pleased to report that KWG is funding a further $2 million program under its agreement to earn from Bold an 80% interest in any chromite discovered within the claims optioned by Bold from Fancamp Exploration Ltd. hosting the Black Horse chromite occurrence. KWG may also earn a 20% interest in any other metals discovered on the property …. “
  • KWG continues to raise bucks  KWG Resources Inc. has received conditional listing approval for an increase to $2,500,000 of its private placement of flow-through units which is extended to February 7, 2014.  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.  KWG closed another tranche of the private placement consisting of 2,150,000 Units for gross proceeds of $107,500 bringing total proceeds for the private placement to $2,255,000 ….”
  • Cliffs Natural Resources In 1000 Words: Uncertainty Abounds – I invested recently in Vale at close to $13. My investment in Vale was my introduction to the mining & metals industry, and I’m interested in exploring it more. I know there are good reasons for concern like seemingly unsustainable Chinese iron demand and in turn iron prices, but in general the pessimism surrounding the industry seems to be intense and overdone, and that’s often where I find opportunities.  So now I am looking at a company that the market seems to be especially pessimistic on, Cliffs Natural Resources (CLF). This Cleveland-based mining & metals company’s stock is almost 50% off its 52 week high of $37.62 and has a short float of 34% ….”
  • Noront seeks environmental, health & safety manager  Noront Resources is actively seeking a Manager, Environment, Health and Safety, to provide leadership and technical expertise towards the successful permitting and acquisition of social license to operate on new projects and innovative development for their HS&E programs. We are looking for a Dynamic Leader who is a hands-on individual to ensure compliance for existing operations and to manage development for their HS&E programs to a world class level ….”
  • Training continues to get First Nation workers ready  “There are lots of mining opportunities out there,” stated Louie Mendowegan, Environmental Liaison Office in Aroland First Nation. The RoFATA program is being operated by Matawa First Nations through its own training delivery organization, known as Kiikenomaga Kikenjigewen Employment & Training Services (KKETS).  Fifteen students from Aroland First Nation started their Mining Readiness Program under the Ring of Fire Aboriginal Training Alliance (RoFATA).  The goal with the RoFATA training is to move from training to employment.  $5.9 million in funding has been provided for the training from Service Canada, and Minister Greg Rickford the Minister responsible for the Ring of Fire.  Three hundred and forty participates are signed up for the training, across Matawa communities. Two hundred and sixty people will continue with the training into the second and third tier training ….”
  • Speaking of First Nations, mining and education ….  The Prospectors & Developers Association of Canada (PDAC) supports the Government of Canada and Assembly of First Nation’s (AFN) collaborative commitment to reform First Nations education. Today, the AFN and the federal government came together to introduce of the First Nations Control of First Nations Education Act to reform education in an effort to improve K-12 education outcomes for First Nation students ….” – more on the changes here, here, here and here
  • The latest from Ontario’s Premier on the Ring of Fire  Ontario Premier Kathleen Wynne was in North Bay on Wednesday, at a business on Voodoo Crescent, which is a part of North Bay’s newest industrial park, adjacent to the Jack Garland Airport ….  She also spoke to the issues surrounding the Ring of Fire and the importance of infrastructure and development projects having the proper footing to get started within the North, saying it was critical to get to the resources and opening up that resource industry in the province.  The Premier says that, in her discussions with Canadian Prime Minister Steven Harper, the Federal Government has expressed interest in getting the development started so that the infrastructure is ready to start bringing Ontario’s natural resources to an international marketplace.  “He (Harper) is open to doing that and understands that the infrastructure is critical,” Wynne says.  Wynne also says that there is training and initiatives so that First Nation communities can be heard and take part in the development of the Ring of Fire, with talks that are underway so that all of the local communities can benefit from this large long term development.  “If we don’t find a way to work with First Nation communities to ensure that everyone who is affected by that potentially $60 billion dollar development, then we’re not going to be able to develop, “says Wynne.  She pointed out that not just one company is set to benefit from the potential to expand the mining of Chromium, but that small companies also stand to gain.  She says that the Ontario Government has been working very hard on the project and is committed to doing it, however, they are committed to doing in a way that includes the communities and the municipalities while building infrastructure and creating economic development ….”
  • Ontario finance minister:  howzabout some $, Ottawa?  “Ontario Finance Minister Charles Sousa says the federal government is picking the pockets of Ontario taxpayers to the tune of $1.4 billion in a bid to balance its books and help other provinces.  In an interview Thursday, Sousa blasted the Conservative government in Ottawa for cutting transfer payments to Ontario at a time when every other province saw increases …. A rail line is needed into a region of Northern Ontario called the Ring of Fire, site of a massive chromite deposit that is used to make stainless steel.  “That would give us a $60 billion opportunity,” Sousa said. “That is huge for the province and for Canada.”  Sousa is in the midst of a province-wide tour for prebudget consultations ….”
  • Canada’s Ring of Fire Minister on the latest  “Federal Minister Greg Rickford says “Noront is now leading the charge. They were perhaps a little underestimated. In the wake of Cliff’s very clear announcement, Noront is moving ahead with the environmental assessment process. We’re all very hopeful that that will go live sooner rather than later.” ….”more
  • Federal NDP’ers visiting the Ring of Fire, then holding a public meeting in Thunder Bay  The federal NDP are heading into the Ring of Fire.  Deputy leader and environment critic Megan Leslie (NDP, Halifax) is one of several MPs in Thunder Bay Thursday before taking a trip to communities near the Ring of Fire.  Leslie said the proposed development will make a national impact on everything from First Nations rights to natural resources to the environment.  “We’re here really on a learning tour,” Leslie said.  Leslie said the MPs want to take what they learn back to Parliament Hill to put pressure on the federal government, which she said has only paid lip service to the development so far despite saying it is a priority …. The NDP are holding a public meeting at the Oliver Road Community Centre on First Nations, environmental and energy issues Thursday evening (13 Feb 14).”
  • Sudbury letter to the editor  “The Cliff’s chromium smelter project proposed for Capreol is on hold but there is no doubt that Cliffs or some other corporation will develop the huge chromium deposits in the Ring of Fire. The people of Ontario own these resources. As owners, we should benefit from our assets and we also have responsibilities related to them.  Because we live in the north, we have to look out for ourselves.  We need to apply this same kind of “we look after us” attitude to our assets in the Ring of Fire ….”
  • Kenora-area municipal politicians to talk Ring of Fire, other stuff  “Representatives from across the Kenora District are gathered in Pickle Lake, for the Kenora District Municipal Association conference. The three day conference continues in Sunday, and the main topics will be forestry, mining and tourism. Kenora Mayor Dave Canfield says one of the things he’s looking forward to most is a presentation on mining. “There’s a big slate of events. We have a tourism panel, a forestry panel and a mining panel. We actually have somebody speaking to us from Noront Resources. It’s probably the mine that’s the closes to any type of production in the Ring of Fire area,” he said ….”

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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