Ring of Fire News


What's up with the biggest thing happening in mining in NW Ontario?

#RingOfFire (#RoF) News – October 28, 2015

  • In case you missed it, Team Red won the federal election. Here’s all there was clearly said about the Ring of Fire that I could find: “…. (Timmins-James Bay Liberal candidate Todd) Lever said …. A Liberal government would also match the provincial funding for the infrastructure needed to make the Ring of Fire development a reality ….” – full Liberal platform here (PDF)
  • Good question …. What is Liberal plan for Northern Ontario? …. When the Liberals released their national platform earlier this month, Foulds and Rafferty quickly noted it bore not a single reference to Northern Ontario, the Ring of Fire or FedNor. In August, Trudeau released “plans for sustainable growth across Northern Ontario” promising to “create sustainable economic growth for the middle class, generate economic opportunities in Sudbury and Sault Ste. Marie (no mention of Thunder Bay or the Northwest) and create the clean jobs of tomorrow.” The rest was chapter and verse from the national platform with Sudbury and the Soo tossed in twice more for localized consumption ….”
  • Lakehead University political scientist: Wait & see if feds provide Ring of Fire money “…. despite Trudeau and Ontario Premier Kathleen Wynne working together on the campaign trail, it’s no slam dunk the province will get the long-coveted matching funds to kick the Ring of Fire mining development into gear. “Do I think she’s going to get $1 billion for the Ring of Fire? I don’t think so,” (Dr. Laure) Paquette said. “If Mr. Trudeau was going to commit himself to that he would have said so when he was here for the blink and you missed it rally on Saturday.”
  • In fact, there’s no specific mention of the Ring of Fire in the PM-elect’s and Premier’s joint statement issued after they met in Toronto this week: “….we met at Queen’s Park to discuss how the incoming Government of Canada and the Government of Ontario can work together on issues important to Canadians and Ontarians, including investing now to create economic growth and jobs. At the meeting, we discussed the importance of investing in infrastructure. Ontario is making the largest investment in public infrastructure in the history of the province, and the new federal government’s commitment to infrastructure investment means we will be able to work together to do more, faster. We reaffirmed our commitment to ongoing collaboration and co-operation on climate change, including plans for the upcoming COP21 meeting in Paris. We discussed our commitment to work with First Nations, Métis, and Inuit partners, and the incoming federal government’s pledge to call a national inquiry on missing and murdered Indigenous women and girls. In particular, we made progress on our mutual commitment to build greater retirement security for Ontarians and Canadians. The incoming federal government and the Government of Ontario will be active partners in the national discussion on pension enhancement, including the CPP and ORPP. In addition to working together on these and other issues, we look forward to a new and positive relationship between the new Government of Canada and the Government of Ontario — one based on mutual respect, common goals, and shared values, and one that is committed to making progress on the things that are important to the people we serve.”
  •  A reminder/poke from Ontario’s PC Leader in the Legislature “…. Patrick Brown, the Leader of the Official Opposition in Queen’s Park questioned Premier Wynne in the Legislature over the severe impact the fire sale of Hydro One will have on Northern Ontario. “The people of Northern Ontario stand to be some of the hardest hit by the Hydro One fire sale,” said PC Leader Patrick Brown. “The PC Caucus understands that the availability of affordable power is good public policy. With a publicly owned Hydro One, this government can’t abandon the people and businesses of Northern Ontario. But a privately owned Hydro One can.” Remote communities are powered by transmission lines which are generally considered to be non-profitable, typically they have been offset by profits Hydro One made in highly populated areas. There is a risk a private Hydro One will view Northern transmission lines as a poor return on investment. “The loss of majority control of Hydro One means the government loses the ability to expand transmission lines as a matter of good public policy,” added Leader Patrick Brown. “If a privately owned Hydro One feels that expanding transmission lines into the Ring of Fire is a bad decision for its investors, then they simply won’t build it.” ….”
  • Even the Marxist-Leninists had a Ring of Fire position! “…. First, none of the cartel parties that are so eager to develop the Ring of Fire mention that chromium is a strategic materiel and that the development of the Ring of Fire serves the interests of the American war machine. Chromium is vital in producing stainless steels and superalloys which have significant military applications including armour and jet engines ….”
  • A Ring of Fire conference is coming to Lakehead University’s law school this week. You can click here to register (free, but you have to register). A bit more detail here: “The Lakehead University Bora Laskin Faculty of Law will host a Ring of Fire conference on Friday, October 30 that will examine sustainable development, the duty to consult, and community impact. A Law professor, a Geology professor, and a law student will moderate the discussions. “This conference seeks to build upon the success of last year’s conference focusing on the future of Aboriginal law in Canada,” said Lakehead Law Professor Jason MacLean, who will be one of the moderators and presenters. “We will explore the three most urgent issues at the intersection of Indigenous rights, the environment, and the economy: the prospects for sustainable development; the meaning and local application of the duty to consult; and Indigenous community impacts,” MacLean said. Three expert panels comprised of representatives from Indigenous communities, government, industry, and academia will examine these issues ….”
  • Meanwhile, in corporate news …. Noront Resources Ltd. announces that payment of interest in the amount of $476,481, for the third quarter of 2015 pursuant to a loan agreement entered into between Noront and Resource Capital Funds V L.P. dated February 26, 2013 and the bridge loan facility entered into between Noront and RCF dated June 3,2015, has been satisfied by delivery of 1,387,135 common shares of the Company at an effective price of $0.3435 per Interest Share ….”



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