Ring of Fire News


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

#RingOfFire (#RoF) News – June 12, 2017

  • New KWG-First Nation partnership afoot KWG Resources Inc. and Marten Falls First Nation have agreed to negotiate the terms of a partnership agreement for mining undertakings in the traditional territories of MFFN, particularly chromite resources in the Ring of Fire. The partnership has been conceived of as an equal sharing of profits that may be derived from mining activities after provision for fully-absorbed manufacturing costs, including comminution, concentration and transportation, plus reclamation, and the amortization of project-finance borrowings …” (company news release) – more (Sudbury Star) – more (Northern Ontario Business)
  • More from KWG’s Chinese experts on the proposed railway north into the RoF“A delegation of KWG Resources and Marten Falls First Nation (MFFN), one of the communities near the Ring of Fire deposits, completed a trip to China to lay the foundation for a Far North railway and project financing. A June 1 KWG release said the group was provided with an overview of the feasibility study began last year, when they most recently visited with their project partner, China Railway First Survey & Design Institute Group (FSDI), at its headquarters in Xian, China on May 15 …”
  • … as well as some work toward getting the Soo a piece of the action from another proposed east-west route into the Ring “Economic development officials in Sault Ste. Marie and Sioux Lookout, Ont. are partnering on a joint initiative to support the Ring of Fire. The proposal calls for a trans‐load facility to be established in Sioux Lookout, where raw materials can be trucked then transported via rail across the region.  To help move the project forward, and to represent his community at the project table, Tom Dodds, CEO of the Sault Ste. Marie Economic Development Corporation, attended a meeting … of the Sioux Lookout Trans‐load Facility Partners …”
  • In other corporate news, a new face on the Noront board“Noront Resources Ltd. … announced that John Pollesel, Senior Vice President, Mining at Finning Canada has been appointed to the company’s Board of directors. Pollesel has over 25 years of mining, operations and finance experience. He was previously Chief Operating Officer and Director of Base Metals Operations for Vale’s North Atlantic Operations, with responsibility for Sudbury, Voisey’s Bay and Manitoba operations along with other mining and metallurgical assets. Prior to that, he was Vice President and General Manager for Vale’s Ontario Operations …”
  • … and KWG pulling in mo’ money & paying some bills “KWG Resources Inc. is pleased to announce closing effective as of June 6, 2017 of an additional tranche of its previously announced private placement (the “Private Placement“) of units (each, a “Unit“) at a price of $0.021 per Unit … The Company issued a total of 8,809,524 Units for aggregate gross proceeds of $185,000, in respect of which 5,000,000 Units were issued for cash proceeds of $105,000 and 3,809,524 Units were issued to a consultant of the Company in payment of consulting fee in the aggregate of $80,000 …”
  • Headline & sub-heading seems to sum it up: The Ring is there – what’s needed is fire to get the job done, says Moe Lavigne — Talking about the Ring of Fire has become an industry unto itself,’ said the KWG Resources Vice President …”
  • A bit of an overview of the latest via sudbury.com
  • as well as myespanola.com
  • On the political front, Ontario’s Tories name a new Ring of Fire critic … Sault Ste Marie’s new MPP, Ross Romano, will be the PC critic for Northern Ontario jobs and the Ring of Fire. Ontario PC Leader Patrick Brown made the announcement at Queen’s Park, updating critic roles for his caucus.  “As our newest MPP for Sault Ste. Marie, I’m looking forward to having Ross Romano work hard every day for Northern Ontario families and as part of the PC caucus,” said Brown in a release. “Ross won a riding that the Ontario PCs have not won in 30 years due to his hard work and commitment. Given his background in serving his community as a city councillor, I know he will dedicate his efforts at Queen’s Park to bring about positive change.” …”
  • … while Ontario Conservative leader Patrick Brown mentions the RoF during recent campaigning “… While knocking on doors during the byelection, Brown said the main issue he heard was the government’s inaction on the Ring of Fire — an estimated $60 billion in chromite deposits located about 400 kilometres northeast of Thunder Bay that the PC leader calls a ‘generational opportunity’. Timmins and Sault Ste. Marie are being suggested as possible locations for a future ferrochrome smelter to process the chromite, which can then be used in the manufacturing of stainless steel.  “The fact the government is not at the table pushing the infrastructure investment is a huge problem. There would be spinoff jobs across northern Ontario with the Ring of Fire,” said Brown.  The development of a transportation corridor, currently under consideration by the Liberal government, would be a priority for Brown …”


Filed under: Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: