Ring of Fire News

Icon

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

Ring of Fire News – 7 Nov 11

  • Thunder Bay the latest to make pilgrimage to Cleveland to convince Cliffs to build chromite smelter in northwestern Ontario  “…. Greenstone municipal leaders won’t be far behind this month when their Thunder Bay counterparts meet with Cliffs Natural Resources senior officials at the company’s head office. Like Thunder Bay, the rural municipality has decided to pull out all the stops late in the game and meet face-to-face with top Cliffs executives to try and convince them to locate a chromite processor at Exton, near Nakina. It’s the second time a Greenstone mayor has gon on a road trip to try and bolster the case to benefit from Cliffs’ planned Ring of Fire chromite mine. A date couldn’t be confirmed Thursday but former Ontario Energy minister George Smitherman is to accompany Greenstone Mayor Renald Beaulieu and CAO Roy Sinclair …. Thunder Bay Mayor Keith Hobbs, city manager Tim Commisso and newly-hired mining exploration specialist John Mason are to head to Cleveland on Nov. 16. “We have a compelling case, and if we don’t go (to Cleveland) we’re never going to get (the processor in Thunder Bay), Hobbs said Thursday. “But if we don’t get it, we will be supporting Greenstone’s bid to have it in Exton,” added Hobbs ….”  Source (PDF)

  • Cliffs Natural Resources holding public meeting in Thunder Bay this month on proposed chromite project  “…. Cliffs officials are to be in Thunder Bay on Nov. 14 for a public information session, the first time they have held a large forum about the project. The session is to take (place) at the Valhalla Inn, 4-8 pm.”  Source (PDF)

  • More information on Noront Resources’ Blackbird exploration site  “Noront Resources Ltd. is pleased to announce the results from an additional 16 holes at the Company’s 100% owned Blackbird chromite deposit …. Wes Hanson, CEO of Noront states: “Drilling at Blackbird has been completed and results returned to date indicate that the limits of the high grade chromite deposit have expanded to the north – northeast along strike as well as down dip. The Company believes that this will translate into a material increase in the chromite resource relative to the December 2009 estimate. The Company plans to update the chromite resource and complete a Preliminary Assessment by the second quarter of 2012.” Mr. Hanson adds: “The Company continues to operate two drills, both of which are testing anomalies identified by an ongoing, ground based, geophysical survey that is underway at the Eagle’s Nest Complex. Company geologists believe these anomalies may represent buried nickel sulphide mineralization that airborne surveys failed to highlight” …. Noront’s summer drill program was undertaken to increase the existing chromite resource. To date 47 holes (21,137 metres) have been drilled. Of the holes drilled to date, assays have been received on 31 holes ….”  Source

  • Analyst:  KWG Resources stock might “Favor Bears (this) Week”  “The recent share price action of KWG Resources Inc. leads to think about a possible bounce down as the company has no strong news and their stock tends to follow the established trading boundaries. KWG had a 4.7 million trading volume on Thursday paired with a share price advance of 18.75%. However, the action didn’t follow up on that and stock’s value has already started retracing back down. The price action is currently in line with the general downtrend and continues to follow the boundaries of an established price channel. Furthermore, despite the large increase in trading volume the intraday price action depicted a low liquidity rally, meaning there is no strong buying pressure. The most recent price advance was somewhat encouraged by news, but there was nothing material to them. On October 27 the company reported that a 12 thousand meter drilling program is underway on Big Daddy chromite deposit in the Ring of Fire property in Ontario. According to the press release the initial metallurgical testing and drilling should be completed during Q1 2012. KWG currently holds 28% interest in the claims explored. The company actually had cash issues for the last reported period but those should now be over as they sold 1% net smelter royalty interests in the Black Thor, Black Label and Big Daddy chromite deposits to Anglo Pacific Group PLC for $18 million in August.”  Source

  • Lakehead University economist Livio DiMatteo:  McGuinty Liberals may bend on Far North Act? “…. This is going to be a contentious issue though how much the provincial government is willing to backtrack on the legislation is open to debate. Given the messianic zeal with which the provincial Liberals have approached environmental and energy issues –even to the detriment of their electoral performance in this region – it is unlikely that they will retreat. Nevertheless, they may be open to modifications if not for the repeal of the legislation …. “  Source

  • What’s next for First Nations calling for joint panel environmental assessment for Ring of Fire projects?  “A group of nine First Nations calling for an enhanced environmental review of Cliffs Natural Resources’ proposed chromite mine project is mulling its options in the wake of what appears to be a mute response from the federal government. “The chiefs are going to be meeting to work on a strategy,” Matawa First Nations spokesman Jason Rasevych said Thursday from the group’s Thunder Bay office. On Oct. 21, Matawa gave the government a week to respond to its demand for the appointment of an independent review panel into Cliffs’ project in the Ring of Fire, about 500 kilometres north of Thunder Bay. Matawa hasn’t said what it will do if its demand isn’t met, but there has been speculation about the issuing of eviction notices and action in the courts. On Thursday, the chiefs flew to Ottawa to support a similar demand from the seven First Nations that comprise the Mushkegowuk group of remote reserves located to the east of the Ring of Fire belt. Both Matawa and Mushkegowuk argue that Cliffs’ project qualifies for a panel review because it has the potential to cause significant damage to the environment and constitute infringement on Aboriginal and treaty rights. The Ring of Fire “is in the heart of the boreal forest and the largest collection of intact wetlands in the world,” the groups say. The Municipality of Greenstone is formally backing Matawa’s call for a panel review ….”  Sourcemore

  • One of the “KI 6” hired by environmental group for watershed protection program.  “John Cutfeet, a Kitchenuhmaykoosib Inninuwug band member, has been hired as the new Aboriginal Watershed Program Coordinator (Anishinini’ow Niipii’ow Anokiinakun) for the Wildlands League. Wildlands League is a chapter of the Canadian Parks and Wilderness Society, and is supporting First Nations directly with the new Aboriginal Watershed Coordinator to help protect river, lakes and wetlands in Canada’s far north. “A majority of First Nation communities do not have the resources or the capacity to begin to deal with the changes that are coming into their traditional territories,” Cutfeet said. “Wildlands League is committing more than 13 percent of its budget this year to providing support and capacity to advance watershed protection for the maintenance of healthy ecosystems. This means 13 percent of its budget is going directly to First Nations.” The role of the new Aboriginal Watershed Coordinator will be to develop culturally appropriate, community-based approaches to watershed stewardship in First Nation communities most often affected by water quality issues. “Communities in the far north do not always have the financial mans or the capacity to do the important work of protecting the environment. Wildlands League is taking the lead to begin to address this very important need,” Cutfeet said.”  Sourcemore


More open source information (excerpts from information monitored 1 Oct-4 Nov 11 (PDF) here.  All information shared here in accordance with the Fair Dealing provisions (§29) of the Copyright Act.  We’re not responsible for the accuracy of the source material, and inclusion of material doesn’t mean endorsement.

Filed under: Uncategorized, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Ring of Fire News – 8 Aug 11

If you don’t want to miss any posts, try subscribing by e-mail. It’s as easy as clicking on the “Sign me up!” button to your right. Enjoy!


Information shared here in accordance with the Fair Dealing provisions (§29) of the Copyright Act.  We’re not responsible for accuracy of original material, and inclusion of material doesn’t mean endorsement.


  • Northern Development, Mines & Forestry Minister Michael Gravelle on Ring of Fire in pre-provincial-election statement: “we are all hoping to see the first mine there possibly ready to open within five years, with a significant training program put into place now so that Aboriginal and Northern workers can get those good-paying jobs in the future ….”  (Source:  Statement, 4 Aug 11)
  • KWG sells off Ring of Fire smelter royalties to Anglo Pacific Group PLC…. “KWG Resources Inc. has completed the sale of net smelter royalty interests (“NSR”) in the Black Thor, Black Label and Big Daddy chromite deposits to Anglo Pacific Group PLC for US$18 million. Half of the purchase price has been received by KWG and the remaining 50% has been received by an escrow agent to be held in escrow for a period of three months as security for KWG’s indemnification obligations to the purchaser in connection with the transaction ….”  (Source:  KWG news release, 4 Aug 11)
  • …. or put another way:  “Anglo Pacific Group has bought 7207565 Canada Inc from KWG Resources Inc. for US$18m. 7207565 Canada Inc owns a 1% net smelter royalty interest in the Black Thor, Black Label and Big Daddy chromite deposits, owned and operated by Cliffs Natural Resources, in the Ring of Fire region of Northern Ontario, Canada. Cliffs Natural Resources is currently undertaking an environmental assessment for Black Thor as part of its project development plans, and once constructed anticipates the production of ore for both direct sale and integrated ferrochrome production. Cliffs has also announced a commitment to engage with First Nations communities affected by the development to ensure the creation of opportunities for enhanced social wellbeing and economic prospects for those communities ….”  (Source:  Anglo Pacific Group news release, 2 Aug 11)
  • Ring of Fire Resources getting out of McNugget property?  “Ring of Fire Resources Inc. announces that it has engaged IBK Capital Corp to divest its 36.75% interest in its McNugget JV Project for cash. Macdonald Mines Exploration Ltd. (“BMK”) has the remaining 63.25% interest in the project and is the operator ….”  (Source:  Ring of Fire Resources news release, 4 Aug 11)

Summary of more open source information and sources cited (1-4 Aug 11) also available here (PDF).

Filed under: Uncategorized, , , , , , , , , , , ,

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

Join 759 other followers

Follow me on Twitter