Ring of Fire News


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

#RingOfFire (#RoF) News – November 3, 2015

  • “Noront Resources Ltd. …. announced that it has started an exploration program close to its Eagle’s Nest Mine in the Ring of Fire. Following a thorough review of its exploration data, the company is initiating this program to test high priority targets within three kilometres of Eagle’s Nest. The program will initially use ground geophysics and if warranted follow up drilling will be conducted. The company will employ community members from local First Nations during the course of the exploration activities. This builds on the productive relationships that Noront has established with its community partners ….”
  • “KWG, Bold & Fancamp Extend Koper Lake OptionThe parties to the Black Horse chromite deposit are reviewing the opportunities available to them to collaborate in its development in order to lead further investment into the Ring of Fire. The mining claims known as the Koper Lake Project, containing the Black Horse chromite deposit are held by Fancamp Exploration Ltd. subject to an option agreement in favour of Bold Ventures Inc. . Bold, in turn, has given KWG Resources Inc. the right to earn up to an 80% operating interest under its option in the chromite resources and up to a 20% operating interest in all “other metals” while Bold will earn, upon KWG fulfilling the terms of the option agreement, up to a 20% carried interest in the chromite resources and up to an 80% operating interest in all “other metals” within the claims ….”
  • “BMO Capital Markets restated their outperform rating on shares of Anglo Pacific Group plc in a research note issued to investors (on 16 Oct 2015), MarketBeat Ratings reports. BMO Capital Markets currently has a GBX 150 ($2.32) price target on the stock. Other equities research analysts also recently issued reports about the company …. Anglo Pacific Group PLC (LON:APF) is a United Kingdom-based firm focused on royalties connected with all the mining of natural resources …. The Company has six producing royalties, including Kestrel, El Valle and Carles Project, Maracas, Four Mile Uranium Project, Amapa Iron Ore Mine and Tucano. Salamanca, Uranium, Spain is included by its development royalties. Its Early-phase royalties comprise Dugbe 1 Gold Endeavor, Railway Deposit (Pilbara), Ring of Fire Chromite Projects and Isua Iron Ore Project ….”
  • Remember this conference last week on the RoF @ Lakehead University’s law school?  Here’s a bit of one panelist’s views from the get together …. “…. honouring Treaty Eight would slow down oil sands extraction, reduce the country’s overall net greenhouse gas emissions and encourage investments in renewable energy development and a green economy. Win-win-win? If so, then shouldn’t we honour Treaty Nine as we contemplate developing the Ring of Fire? ….”
  • Speaking of Treaties, extraction and First Nations …. “Treaties signed in Canada since the 1970s have greatly benefited First Nations and mining companies, as they have boosted the average annual income of such communities and lead to greater development of natural resources, a new study (PDF) released (28 Oct 2015) shows. According to the report by independent, not-for-profit research firm C.D. Howe Institute, modern treaties implemented between 1991 and 2006 in rural British Columbia, the Northwest Territories and Yukon had measurable benefits for both, First Nations and mining companies alike ….” – more here
  • Sooooo, whazzup with the Matawa First Nations’ negotiator these days now that Team Red’s in Ottawa?  “As Liberals across the country swigged champagne and gave triumphant speeches to screaming crowds, Bob Rae was hunkered down with the old-timers at a TV studio. Just like Brian Mulroney and Joe Clark, the ex-Liberal leader was spending Election Night as a pundit, filling the airtime between real news. “The last thing the leader wants is to have people going on television, campaigning for some job or other,” said Rae when asked if he might suddenly have a gig with any apparent Liberal government. “I don’t need a title and I don’t need a job, the leader knows that I’m on his team and I’m happy to help him in any way he wants.” Of course, it was the boilerplate statement of humility for an ex-politician who insiders agree is almost guaranteed a role in the new government he is widely credited in helping to create ….”
  • Tea Leaf # 1 to be read (maybe):  Rae’s right-hand man on the file, OKT partner Bryce Edwards, was at the L.U. conference instead of Rae himself representing Matawa communities.
  • More post-election promise watching  “Canada’s junior mining sector is waiting with bated breath to see if Justin Trudeau’s incoming Liberal government will maintain a tax credit that has helped companies raise billions for exploration. Miners argue that the 15-per-cent Mineral Exploration Tax Credit (METC) is an invaluable tool that encourages companies to work in Canada and helps keep the sector active during commodity downturns, including the current one. But there are detractors in the academic community who say it is just another inefficient benefit that favours one industry over another. During the federal election campaign, the Liberals were the one major party that did not form a strong position on the METC, which is set to expire in March. The Conservatives said they would extend the credit for three years, and increase it to 25 per cent for remote projects, like Northern Ontario’s “Ring of Fire.” The NDP mused about making the METC permanent ….”
  • Not strictly RoF, but dealing with consultation, litigation & mining ….  “Next week, closing arguments will be heard in a lawsuit that highlights the Ontario provincial government’s slowness in developing clear approaches to the duty to consult Aboriginal communities and in offering any clarity to those attempting to operate in the Canadian resource sector. The decision to be rendered has widespread implications. The case has parallels to the situation of other resource companies, and it highlights the significant dangers in governments trying to muddle through the interaction between Indigenous rights and resource development without making clear decisions and enacting clear legal frameworks. Future prosperity for Aboriginal and non-Aboriginal communities alike will be affected by what happens with these sorts of lawsuits. Some background helps make clearer what is at stake. The lawsuit sees Northern Superior Resources, a junior exploration company, suing the province for over a hundred million dollars. The suit arises from the province’s failure to take steps on the duty to consult while suggesting — without any legal framework for it at the time — that the company had to deal with consultation ….” – you can follow the Northern Superior Resources litigation via company updates here



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