Ring of Fire News


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

#RingOfFire (#RoF) News – March 23, 2016

  • Here’s the federal budget document released yesterday (PDF). Number of mentions of “Ring of Fire”? Zero. Number of mentions of “chromite”?  Zero
  • More on that “First Nations and long neglected federal services like Via Rail and national parks were among the winners Tuesday in the new Liberal government’s first budget, but other specific Northern interests like FedNor and Ring of Fire infrastructure didn’t make the cut …”
  • NDP MP Charlie Angus’ take? “In terms of the North, no commitment to the Ring of Fire. Nothing. I don’t get that at all.” – a bit more from Angus here.
  • I guess the budget folks didn’t listen to mining analyst Stan Sudol … “PM can save Ring of Fire”
  • Heck, even Ontario’s mines minister Michael Gravelle was optimistic – before the federal budget, anyway“… with the election of Prime Minister Trudeau and a new federal government, the prospect of Ontario having a willing and supportive partner in this project of national significance has increased. We are encouraged by their commitment to infrastructure and look forward to working with them on developing the Ring of Fire.”
  • Even before the budget, Ontario Tory mines critic Norm Miller sounded unhappy: “… “The frustration out there, and this sort of demonstrates it, is there’s a lot of talk” but nothing substantive happening on the ground …”
  • Gravelle answering questions about hiring a consulting firm to help build up the RoF Infrastructure Development Corporation “… In February 2014 Deloitte was hired to work with mining companies, first nations and the provincial and federal governments on the governance structure of the ROFIDC. During this time, Deloitte worked with the ROFIDC and its partners to determine the terms of reference for a technical review of infrastructure options in the Ring of Fire. “The procurement for this work occurred in late 2015 and engineering firm Hatch Mott MacDonald Ltd. was the successful candidate in that procurement. The study is currently underway and is in its early stages. “Once completed, this review will provide a common basis of technical information for key partners as discussions regarding industrial infrastructure development continue to advance.”
  • KWG moving forward with its R&D “KWG Resources Inc. is in the process of filing the National Phase in the above-identified countries under the Patent Cooperation Treaty to seek patent grants for its method to reduce chromite ore to metallics utilizing natural gas, a carbon reductant, and a catalyst formulation. The grant of a patent will be sought for the invention in each of the countries where the method might have commercial application and viability …”
  • … while seeking a few bucks out there in the market “KWG Resources Inc. has filed a Notice of Sale from Control with respect to all of its 144,630,000 common shares of affiliate Debut Diamonds Inc. The notice provides that the shares will be sold either in whole or in part and either privately or through the facilities of the Canadian Securities Exchange stock market …”
  • Noront pulling in more bucks“Noront Resources Ltd. is pleased to announce that … it has closed its short form prospectus offering and has raised gross proceeds of $6,332,772 through the issuance of the maximum number of units and flow-through units under the base deal, as well as the exercise of the over-allotment option, by the Agent …”
  • … after facing an interesting day on the markets earlier this month The stock of Noront Resources Ltd is a huge mover today! The stock decreased 1.43% or $0.005 on March 9, hitting $0.345. About 755,629 shares traded hands or 100.93% up from the average. Noront Resources Ltd has risen 6.00% since February 9, 2016 and is uptrending. It has outperformed by 11.66% the S&P500. The move comes after 7 months negative chart setup for the $84.23M company. It was reported on Mar, 10 by Barchart.com …” – more analysis here.


Filed under: Uncategorized

#RingOfFire (#RoF) News – March 8, 2016

  • More on roads/rail connecting to the Ring of Fire “There could be battle shaping up on who gets first dibs on the government infrastructure money that has been promised for the Ring Of Fire mining development in far Northern Ontario. Speaking out the annual convention of the Prospectors and Developers Association of Canada (PDAC) now on in Toronto, Alan Coutts said his company is ready to move ahead with an all-season road for the project. Coutts is the president and CEO of Noront Resources Ltd., one of the major players in the Ring Of Fire venture a large mining development located about 600 kilometres northwest of Timmins, in the remote McFaulds Lake area. The prospect is identified mainly as a chromite project, valued in the tens of billions of dollars. Monday’s announcement by Coutts is at odds with an announcement made earlier this year by KWG Resources Inc, the other big player at the Ring Of Fire …”
  • A mining analyst on what’s needed to get the #Rof, and First Nations in the area, moving “… The mining companies in the Ring of Fire need infrastructure and so do the isolated aboriginal communities. If the Trudeau government worked in conjunction with Ontario and adopted a “Marshall Plan” — the name of the American multibillion dollar initiative to help rebuild European countries after the Second World War — to develop and modernize infrastructure in the entire isolated northwest, it would kill two birds with one stone …”
  • Ontario First Nation leader Isadore Day: #RoF (and remote First Nations) needs all-season infrastructure “… Any potential future mining development in the Ring of Fire is dependent upon the construction of a multi-billion dollar transportation corridor. With the full consent of First Nations, we need to conclude studies, and simultaneously out shovels in the ground. Imagine the spin-off economic benefits of all-season roads, from responsible resource development, to tourism, fishing and hunting? All-season roads would also greatly contribute to finally securing healthy, happy sustainable communities. Most importantly, all-season roads would allow our communities to more fully participate in Ontario’s economy …”
  • Ontario’s mines minister sounding optimistic as Ottawa prepares for a 22 March budget “Justin Trudeau’s federal government hasn’t even issued its first budget yet. But Michael Gravelle said he is already “very encouraged” it will play a strong role in development of Ontario’s “Ring of Fire” mineral belt. “I’m feeling very positive about the federal government role coming forward with the Ring of Fire,” Gravelle, Ontario’s minister of northern development and mines, said in an interview. Gravelle said he has a good working relationship with James Carr, the federal natural resources minister, and expects to have more discussions with him regarding the Ring of Fire this week at the PDAC show …”
  • … while an NDP MPP doesn’t sound quite as positive yet … “Algoma-Manitoulin MPP Michael Mantha is pushing the provincial Liberals to take action on developing the Ring of Fire. The Northern Development and Mines critic told CBC News the Liberals have promised to invest a billion dollars into the mining project since 2014, but said northerners are frustrated because they want stable jobs now. “We keep hearing the government is developing a plan, to implement the plan and put the plan in action,” Mantha said. “It’s time to move. It’s time to create jobs for Ontario. It’s time to bring prosperity to First Nations and into the entire province.” …”
  • … and a federal NDP MP continues to press Ottawa “Timmins-James Bay NDP MP Charlie Angus is calling for action on the Ring of Fire as the Liberal government is poised to announce new infrastructure spending. The massive mining project has been stalled for a decade due to lack of leadership at the provincial and federal levels, Angus said in a news release. While the Liberal Platform failed to mention the Ring of Fire, New Democrats are asking that the government commit to supporting it in the upcoming budget. Angus has written to Natural Resources Minister Jim Carr (letter here) urging federal action to ensure that the potential of the project is realized and to ensure that regional First Nations are able to benefit fully from the project …”
  • In business news, Noront continues to raise money “Noront Resources Ltd. is pleased to announce that it has filed an amended and restated preliminary short form prospectus in the Provinces of Ontario and British Columbia and filed a preliminary short-form prospectus in the Provinces of Alberta and Nova Scotia, adding Alberta and Nova Scotia as offering jurisdictions. The Company has obtained a receipt from the Ontario Securities Commission for the Amended Prospectus to qualify the distribution of units of Noront (the “Units”) and flow-through units of Noront and the common shares and warrants underlying the Units and Flow-Through Units, in each of Ontario, British Columbia, Alberta and Nova Scotia. If the maximum offering is achieved, the Company will raise aggregate gross proceeds of $5,500,000 and $3,000,000 if the minimum offering is achieved …”
  • Some recent media coverage of this report (52 pg PDF) out of the Northern Policy Institute “… The report, authored by Karl Skogstad and Ayman Alahmar, focuses on nine projects in northwestern Ontario that, for varying reasons, remain stalled at different stages of development … In the case of the Ring of Fire, particularly, Skogstad suggested the federal and provincial governments invest in energy and transportation infrastructure now when there can be a benefit to nearby First Nation communities. It’s not that the road’s just going to a single future resource development,” he said. “It’s that we have an opportunity to do some nation-building here to start improving the economic conditions in those communities, and as a positive spinoff of that, we’re ready to go when resource prices cycle high.” …”
  • An update on First Nation training under way around the #RoF “Development in the Ring of Fire is years away, but Indigenous communities in Matawa First Nations territory are strategically going about training their people so they’ll be ready for development when it arrives. Since 2011, Four Rivers, Matawa’s First Nations Environmental Services Group, has provided the tribal council’s nine communities with information and resources to help them make decisions about the management of their natural resources …” – more on Matawa’s recent training/education work here, here & here


Filed under: Uncategorized

#RingOfFire (#RoF) News – March 3, 2016


Filed under: Uncategorized

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 758 other followers

Follow me on Twitter