#RingOfFire (#RoF) News – January 31, 2020

• “Conservatives Say Northern Ontario “Abandoned by Throne Speech” ” (netnewsledger.com)
• “Northern Ont. snubbed in throne speech: Tories” (Sudbury Star)
• Text, Speech from the Throne, 5 Dec 2019

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• “Batchewana First Nation voices opposition to proposed Noront ferrochrome smelter” (Northern Ontario Business)
• “City of Sault Ste. Marie will wait for an environmental study before deciding whether or not to back Noront’s ferrochrome smelter in Sault Ste. Marie. Batchewana First Nation, in a release dated Dec. 20, announced its opposition to the proposed site citing concerns for the well-being of area residents and the environment …” (Sault Star)
• “Noront Resources President and CEO Responds to Opposition to Ferrochrome Smelter in SSM” (Wawa-news.com)
• “Sault musician moved by retired steelworkers to pen ‘protest’ song” (SooToday.com)
• “Noront CEO Alan Coutts is cautiously optimistic about his company’s claims in the so-called ring of fire, saying its first mine could be operational as early as five years from now. Environmental assessments are currently underway on two road projects that would open up the valuable mineral claims to development …” (tbnewswatch.com)

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• “… (writer and mining watchdog) Joan (Kuyek) expressed extreme dismay at the money spent on the Ring of Fire. She said, “The federal and provincial governments have sunk over $57 million into a pipe-dream that isn’t feasible. The Ring of Fire is not likely to ever happen. However, people are getting rich over it.” As of 2016, the federal government spent $17 million and the Ontario government spent $40 million. “Money that could have gone to homes, healthcare, and other priorities,” declared Joan. Joan stated, “If a big mining company such as Glencore thought the Ring of Fire was viable, they would invest immediately. The CEO of Noront Resources makes over $600 thousand per year and for what?” Noront Resources is a junior mining company without sufficient financial resources …” (saultonline.com)

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• “Two senior leaders from Webequie First Nation said they are not opposed to development in the Ring of Fire but environmental stewardship and the well-being of their community very much remain their priorities …” (Northern Ontario Business)
• “Chiefs from two economically depressed communities near the Ring of Fire told Queen’s Park politicians they want to be “equitable partners” to share in the benefits of Far North development …” (Northern Ontario Business)

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• “… As for the Ring of Fire, (Ontario mines minister Greg) Rickford said there would be “no more regional brainwork” in the “not too distant future.” He added the province would be working with the communities in the region differently.  “We spent more than $20 million and sadly the Indigenous communities have not benefited from this and the leaders of those communities will tell you.”  The minister explained the government has done Indigenous communities and mining companies a “disservice” by being caught up in bureaucratic systems which have not benefited those proximal to the Ring of Fire.  When it comes to the region, Rickford said he would argue the larger economic prospect is tied to the infrastructure that supports it, meaning the government would be taking “an entirely different approach” and “building a corridor to prosperity so the communities in that region … will have roads not just to the North to any developments that occur but also to the South.  “The government of Ontario does not build mines. It’s the companies that build mines. Our job is to support infrastructure, and we are very close to developing full partnerships with the Indigenous communities.” …” (northernnews.ca)

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• “Ring of Fire’s chromite cache remains stranded as Canada, U.S. mull ‘strategic mineral security’ plan” (The Post Millennial)
• “Column: Stalled Ring of Fire worth more than $117 billion” (Sudbury Star)
• “Ontario’s Ring of Fire: Many Hurdles Yet to Be Overcome” (The Epoch Times)

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• “… Bakhtiar Moazzami, a professor of economics and econometrics at Lakehead University … “On the positive side, development of the Ring of Fire, which is expected to happen in the next five to 10 years, will generate a significant number of jobs and will continue to be a source of stimulation to Northern Ontario’s economy. Indigenous residents of the area will be able to participate in the development and initial phase of the operation, which will consist of open-pit operations; however, to receive long-term benefits, we need to enable our workforce to perform tasks that require a higher level of expertise and education.”  Moazzami says many tradespeople in Northern Ontario are reaching the age of retirement, which means workers at the Ring of Fire will need to be imported from elsewhere. While Indigenous communities are poised to benefit, Moazzami says without more education, they will not reap the benefits for long.  “The Ring of Fire will increase demand for skills well above the regional supply as most tradespeople are close to retirement in northern regions. Thus, many migrant workers will be employed at the site,” he says.  “The northern Indigenous population will be the primary beneficiary of jobs in the initial stages of development. However, given the relatively low levels of educational achievement among the northern Indigenous workforce, the prospect of benefiting from later stages of development is slim.” …” (Sudbury Star)

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• “Court sides with environmental groups in ongoing De Beers lawsuit … “Our client’s case against De Beers presents a critical opportunity to set a precedent for how the province regulates mines in Ontario’s so-called ‘Ring of Fire.’ We look forward to proceeding with this prosecution.” …” (Timmins Daily Press)

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• “Noront Resources Announces Issuance of Interest Shares” (Noront news release)
• “Noront Announces Debt Extension and Royalty Sale and Provides Additional Updates” (Noront news release)
• “KWG to Issue Ferrochrome Warrants” (KWG news release)
• “Resource Capital Fund V L.P. Announces Amendments to Convertible Loan with Noront Resources Ltd.” (Resource Capital Fund news release)

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Filed under: Uncategorized, Alan Coutts, Bakhtiar Moazzami, Batchewana, Eabametoong, Greg Rickford, Joan Kuyek, KWG Resources, Noront Resources, Sault Ste. Marie, Webequie