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

#RingOfFire (#RoF) News – October 21, 2016

  • “Ring of Fire on agenda at NADF mining summit” in Timmins earlier this week – more on the Summit here
  • Another overview piece based on an interview with Noront’s President/CEO in The Northern Miner here “The greenstone belt that hosts the nickel-copper-platinum group metal (PGM) and chromite deposits in northern Ontario’s Ring of Fire camp, 540 km northeast of Thunder Bay, is unique compared to other regions in Canada, says Noront Resources’ (TSXV: NOT) President and CEO Alan Coutts.  “In our case we have a typical, greenstone belt, but we also have this very large, layered ultramafic intrusion complex and iron formations abutting it. So it had all the right things going on to create the diversity of deposits we see there today,” he tells The Northern Miner during a phone interview …”
  • More from CBC Radio’s Jeff Walters’ recent visit to the Ring The one company in the Ring of Fire still doing active exploration said it has already made a positive impact on neighbouring Indigenous communities.  Noront Resources has set a target of having over half of its staff comprised of Indigenous employees. So far, the company has met the target.  “Even at an early stage, where we are today in terms of exploration, we want the communities to realize some of those benefits through jobs, through training,” said Ryan Weston, the VP of Exploration with Noront Resources. “So that in a longer term scenario, they will ultimately be believers in the benefits, the positive benefits that a mine would create here in the Ring of Fire.”  Although the camp itself has few staff at the moment, half of the workforce is comprised of Indigenous workers …” 
  • TD economist Dina Ignjatovic‘s take on the Ring of Fire from a Toronto conference earlier this month: “… When asked about mining in Ontario and the Ring of Fire, Ignjatovic said it could be beneficial to the economy in the future. The Ring of Fire, located 500 kilometres northeast of Thunder Bay, Ont. has a mineral potential said to be worth $60 billion and includes the largest deposit of chromite ever discovered in North America.  “I think we’re a long way out from having mass production right now but in the future, if it does get developed, it could be a boost to the Ontario economy and for Canada. Right now I think it’s too much in the early stages.” …”
  • A quick hit on one of those OTHER Ring of Fire companies … “Recently stock market broker analysts have updated their ratings and price targets on shares of Anglo Pacific Group. The latest broker reports which are currently outstanding on Friday 21st of October note 4 analysts have a rating of “strong buy”, 0 analysts “buy”, 0 analysts “neutral”, 0 analysts “sell” and 0 analysts “strong sell” … Anglo Pacific Group PLC is a United Kingdom-based company, which focuses on royalties connected with the mining of natural resources … The Company’s early-stage royalties include Pilbara, Ring of Fire and Dugbe 1 …”
  • Not specifically Ring of Fire, but worth knowing about politically  A government bill introduced at Queen’s Park this week proposes a number of changes to Ontario’s electoral rules, and at least one aspect of it has the support of the New Democrat MPP for the Kenora, Ont. area.  One part of the Election Statute Law Amendment Act proposes a commission to advise on the creation of up to two additional ridings in the province’s far north in order to improve representation for First Nations.  “There are 70 communities in Kenora-Rainy River and one member to meet with all of those mayors-in-council and chiefs-in-council,” said Kenora-Rainy River MPP Sarah Campbell, adding that having at least one other voice in the legislature would help.  “We certainly look forward to some changes that would improve communities’ access to the political process.”  Currently, the geographically large Kenora-Rainy River and Timmins-James Bay ridings encompass the entire far north, as well as a number of urban areas across northwestern and northeastern Ontario.  The proposed Far North Electoral Boundaries Commission could recommend changing one or both of those ridings …” – a bit more from Ontario’s information machine here (news release) and here (backgrounder – including information on the make up of the team considering the riding boundary changes – any bets that the “current or former judge of an Ontario court” for chair might be this guy?).

 

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