Ring of Fire News


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

#RingOfFire (#RoF) News – December 18, 2015

  • KWG drops by for a visit “KWG Resources Inc. met on (7 December) with the Mayor, CAO and EDO of the Municipality of Greenstone to discuss mutual plans being pursued by them with the Aroland First Nation for the possible development of beneficiation facilities at Exton, Ontario adjacent to the Aroland First Nation Reservation, in Greenstone’s Nakina ward …” (P.S. – It’s a “reserve”, not a “reservation” in Canada.)
  • Noront has a good day on the markets “The stock of Noront Resources Ltd is a huge mover (this past Monday)! The stock increased 9.46% or $0.035 on December 14, hitting $0.405. About 71,378 shares traded hands. Noront Resources Ltd has risen 6.00% since November 15, 2015 and is uptrending. It has outperformed by 9.68% the S&P500 …”
  • Noront’s Eagle’s Nest makes into (at least one of the lists of) the top ten anticipated projects “The reason for the project’s inclusion here is not all down to economics. When Cliffs Natural Resources pulled out of its huge chromite project in the Ring of Fire, it left a sizeable dent in Canada’s Ministry of Northern Development and Mines’ plans for the region. As a result, the government has now pinned its hopes on this 150-200,000 tpa nickel-copper-PGE project, which it anticipates leading to a host of spin-offs to open up the area. Simply put, it cannot afford to let it go the same way as Cliffs’ development, so it may look to invest in infrastructure that the project could potentially use. A March update of its 2012 feasibility study economics envisaged initial capital of C$609 million, a $265 million net present value (8 percent discount), an 18.9 percent internal rate of return and a three-year payback period at prices of US$12,613/t of nickel, US$6,020/t of copper, US$1,126/oz of platinum and US$735/oz of palladium. There is potential to develop Eagle’s Nest concurrently with the Blackbird, Black Thor and Big Daddy chromite deposits, which could potentially bolster the economics. A bigger project factoring in all of the major claims would capture the imagination of regulators, but come with a top-heavy capital cost that would be hard to fund in this environment.”
  • Ontario’s mines minister defends the Ring of Fire Secretariat during Question Period in the Legislature“The fact is that the Ring of Fire Secretariat has been doing very remarkable work and working with First Nations, working with industry. There’s no question there have been challenges related to the timelines. I’m very pleased that I got an opportunity to speak with the Auditor General in advance of her releasing the report so that we could discuss the fact that, indeed, setting precise timelines—factors such as commodity pricing, and factors such as the extraordinarily important work we do with First Nations, which I know you would consider to be an absolute priority, as well as the reality of the infrastructure needs and us being able to work with a positive and co-operative federal government, are key to putting those timelines in place. So the Ring of Fire Secretariat continues to do extraordinarily important work, work that I know they want to carry on, and we’re very supportive of that.”
  • … as well as the Ring of Fire Development Corporation: “… In terms of the Ring of Fire Infrastructure Development Corp., their key task is to bring the partners together. That includes—very much, we hope—First Nations, includes industry and, may I say, also includes the federal government. They have also been crucial to putting in place some key technical infrastructure studies which again are crucial in terms of us making decisions through the partnerships on the transportation infrastructure corridor that’s going up to the Ring of Fire. We recognize how crucial it is in terms of a resource development project. It’s in a remote part of the province that has never seen development before. Those are big decisions …”
  • As the final report of the Truth & Reconciliation Commission comes off the presses, one analyst points to resource development as a type of reconciliation already under way “… General commentary on the Canadian resource sector focuses more on protests – a legitimate part of the contemplation of resource development – than on collaboration. Criticism of Canadian mines, pipeline companies, oil and gas firms, hydro projects and the like garners a lot more attention than joint business ventures, training and employment programs, and increased revenues for Indigenous communities. But this imbalance in public awareness has masked a promising story, one of true and widespread reconciliation, where Indigenous communities and governments have learned to work together and share, to a significant degree, the economic benefits of resource development Reconciliation needs a new story, one that looks to beyond the problems of the past and that focuses on the achievements of the present and the prospects to do even better in the future. Canada can and must do much better than we have, and the Canadian public appears to agree. Reconciliation through resource partnerships may well lead Canada toward a more equitable and shared future.”



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