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Ring of Fire News – July 23, 2014

  • Premier, yesterday during Question Period, on the $1B question  “We have committed to setting up a development corporation that would include all of the parties, and we very much hope that the federal government is at the table, because in order for that infrastructure to be completely developed and in order for those chromite and mineral deposits to be realized, we need everyone working together. We have committed $1 billion. We are firm in that commitment. We will work to set up a development corporation …. we are going ahead. We are working to set up the development corporation, because we believe that this is an opportunity that will benefit not just the region, not just the province, but the country.”
  • Toronto transportation consultant raises good question  “Trains or trucks? That is the burning question that must be answered in the debate over the Ring of Fire’s transportation options. In a bygone era, the overwhelming choice would have been rail. As generations of Canadian school children once learned, it was the railways that opened up Northern Ontario and most of the country, economically and socially. Even in the subsequent era when rail lost its monopoly, trains remained the winners when it came to providing access to large, long-term resource developments. The construction of the CP and CN branch lines to Manitouwadge’s copper mines in the 1950s is a prime example. But trains haven’t fared well in these competitions in Canada in recent years, even as they are growing in importance in other developed and developing nations. Consequently, many rail proponents regard the Ring of Fire’s modal choice a litmus test for the direction of transportation policy, federally and provincially. Will rail solutions once again be part of the Canadian planning and decision-making processes? ….”
  • Green Party on the Ring of Fire  “A motion calling for responsible development of the Ring of Fire, passed at the Green Party of Canada’s biennial meeting in Fredericton, puts “the party in the game” and shows it has good ideas other parties might want to consider. Sudbury’s Steve May attended the convention and was surprised to learn every person attending had heard about the rich chromite deposits 540 kilometres northeast of Thunder Bay — whether they were from British Columbia or New Brunswick. May has been thinking of the Ring of Fire as a regional issue, “but had I lived in Alberta in the early ’80s, I might have thought the development of the tar sands was a regional issue. “We know it’s not,” he said of the Ring of Fire. “It’s a national project.” Before delegates to the convention met, they agreed to put a motion on the weekend agenda calling for a five-pillar policy to develop the area. It addresses community benefits, energy, transportation, value-added industry and lifecycle planning for extracted resources. To maximize the Ring of Fire’s economic potential for Canada, the Greens’ policy is calling for the creation of a working group to assess the feasibility of a value-added stainless steel industry as a requirement of development ….”Green Party news release on convention (no apparent links to resolutions passed)
  • More on Aboriginals training to be ready for Ring of Fire jobs  “Better career options are the goal for many of the Matawa First Nations trainees currently pursuing Ring of Fire Training Alliance (RoFATA) Tier 2 and 3 training. “(My goal is) to eventually get a really good career where I can support my family and move out of Thunder Bay into a different community,” said Caitlin Cheechoo, mother of a three-year-old son and one of about 60 Tier 3 RoFATA trainees who have completed about three weeks of their 12-week program at Confederation College in Thunder Bay. “Right now, all together, we’re learning the math and English components and then we branch out to our own individual (pre-trades program).” Cheechoo is focusing on the Pre-Trades Carpentry program, one of five programs offered through the Tier 3 RoFATA training. The other programs are: Pre-Trades Electrical, Pre-Trades Plumber, Pre-Trades Heavy Duty Equipment Mechanic and Pre-Trades Construction Craft Worker. “I just like the hands-on working with everything,” Cheechoo said ….”
  • Documentary film maker eyes Ring of Fire  “Lalita Krishna has no intention of following the same contrived script that’s evident in the mining reality shows currently being embraced by network television. The award-winning Toronto producer of television documentaries intends to drill down to the essence of the multi-faceted world of mining by documenting the lives of the people who toil at the grassroots edge of the industry. Krishna recalls spending four bone-chilling days with Barb Courte Elinesky, CEO of two Thunder Bay drilling companies, and her rugged crew shooting video in a remote exploration site in Greenstone last March. The conditions were harsh, a vehicle became stuck on an access road, and they returned to their hotel in Beardmore one night after an exhausting day to find all the restaurants closed. “When I was with Barb in that extreme environment; the drama happens naturally, you don’t have to create those situations or stage anything.” The mining industry is new subject matter for the Indian-born Krishna, who worked as a producer at TV Ontario before venturing out on her own as an independent documentary producer ….”
  • KWG Resources Inc. announces that it will not reconvene its Annual and General Meeting of Shareholders on July 30, 2014 at 11:00 am (local time) at the offices of Norton Rose Fulbright Canada LLP, Suite 3800, Royal Bank Plaza, South Tower, 200 Bay Street, Toronto, Ontario. The special resolutions to amend the Company’s articles to include the authority to issue preference shares and to let all shareholders wishing to do so acquire with each fifty of their present shares one new multiple-voting share (provided that these may be converted back into the fifty subordinate voting shares at any subsequent time of their choosing) have been withdrawn. “While there is substantial support for both initiatives, some of our largest shareholders feel that they would prefer to have an opportunity to subsequently approve the specifics of any proposed preferred share issue when terms have been negotiated,” explained KWG President Frank Smeenk ….”

 

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2 Responses

  1. Davee says:

    Development corp has been talked about since May. About time we had a study group formed by Wynne to study the delay

    • Let’s not forget, though, that the clock is ticking to where this mysterious entity is supposed to be in place, good to go no later than end of work September 1st. That’s 18 (calendar) days, or 12 work days, from when I post this (13 Aug 14). Let’s see how that goes ….

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