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Ring of Fire News – July 11, 2014

  • Supreme Court of Canada decision: Ontario CAN issue logging permits, BUT ….  “…. The central question on this appeal is whether Ontario has the power to take up lands in the Keewatin area under Treaty 3 so as to limit the harvesting rights under the treaty, or whether this is subject to Canada’s approval. Ontario and only Ontario has the power to take up lands under Treaty 3. This is confirmed by constitutional provisions, the interpretation of the treaty, and legislation dealing with Treaty 3 lands …. Ontario’s power to take up lands under Treaty 3 is not unconditional. When a government — be it the federal or a provincial government — exercises Crown power, the exercise of that power is burdened by the Crown obligations toward the Aboriginal people in question. Here, Ontario must exercise its powers in conformity with the honour of the Crown, and the exercise of those powers is subject to the fiduciary duties that lie on the Crown in dealing with Aboriginal interests. For Treaty 3 land to be taken up, the harvesting rights of the Ojibway over the land must be respected. Any taking up of land in the Keewatin area for forestry or other purposes must meet the conditions set out by this Court in Mikisew Cree First Nation v. Canada (Minister of Canadian Heritage), [2005] 3 S.C.R. 388, 2005 SCC 69. If the taking up leaves the Ojibway with no meaningful right to hunt, fish or trap in relation to the territories over which they traditionally hunted, fished, and trapped, a potential action for treaty infringement will arise ….” – The Canadian PressCBC.caReutersFinancial Post Netnewsledger.comQMI/Sun MediaAPTNmore via Google News
  • Fraser Institute report: Recent Supreme Court decision = more uncertainty for business in B.C.?  “…. The judgment reaffirms that consultation processes and the justification of infringements of Aboriginal rights and title are the responsibility of the Crown and not project proponents. It will mean that if development is to occur on Aboriginal title land against the wishes of the First Nation, governments will have to be advocates for third party projects. Where there is no consent, and the potential infringement cannot be justified, proposed projects may be set aside by the court. This is also true for existing development projects. This puts current and potential development at risk and results in increased uncertainty for economic development in British Columbia ….”  Fraser Institute news release – media coverage (Google News)
  • Ontario’s response to the Tsilhqot’in Supreme Court decision includes Ring of Fire mention  “…. The Tsilhqot’in Nation decision builds on earlier decisions of the Supreme Court, including the Delgamuukw, Haida and Mikisew cases, that have given meaning to the constitutional protection of aboriginal and treaty rights and established principles that guide governments in their relationships with aboriginal communities …. It’s also in the spirit of these earlier rulings that, this year, the government signed a historic regional framework agreement with the nine Matawa member First Nations for negotiations on sustainably developing the Ring of Fire. It’s one of the most significant mineral regions in the province, with mineral potential known to be worth $60-billion, including the largest deposit of chromite ever discovered in North America. This government-to-government relationship ensures that these First Nations participate in, and benefit from, proposed development in the Ring of Fire. We’ve also announced the creation of a development corporation that aims to bring together key mining companies, First Nations, and the provincial and federal governments to develop infrastructure in the Ring of Fire region ….”
  • From the KWG Info-machine  “Toronto stockbroker Pope & Company announced …. that it has initiated research coverage on KWG Resources Inc. Well-known mining analyst Jay Turner recommends the shares of KWG as a speculative buy with a target price of $0.20. “Jay has done an outstanding job of researching, interpreting and understanding our published views of the opportunities for the creation of an enterprise following from the discoveries in the Ring of Fire”, said KWG President Frank Smeenk. “We are very gratified with both the coverage and the recommendation, which is quite unusual for a junior exploration company. We appreciate the confidence!” ….”
  • More from the KWG Info-machine  “KWG Resources Inc. retracts from its press release issued this morning …. The earlier release advised that Toronto stockbroker Pope & Company announced this morning that it has initiated research coverage on KWG. A Market Surveillance Officer of the Investment Industry Regulatory Organization of Canada (“IIROC”) required that the noted recommendation contained in the initial report be retracted as this is considered not to be balanced disclosure on the part of the Company ….” 
  • MOAR pessimism about Cliffs  “Cliffs Natural Resources’ battle with Casablanca Capital continues. The troubled miner has offered a settlement to the activist investor one more time. According to a Cliffs Natural Resources press release, the company has offered three seats on the Cliffs Board to Casablanca. What’s more, the board would be cut to nine members from current eleven if Casablanca accepted the proposal. Casablanca’s response was fast, and the activist investor rejected the offer. In my previous article on this story, I argued that both Casablanca’s and Cliffs Natural Resources’ plans were dubious. However, there seems to be another trap on the way for Cliffs Natural Resources, and that’s indecision ….”

 

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