Minister speaks about chromite opportunities

By tbnewswatch.com

Minister of Northern Development and Mines Michael Gravelle spoke Thursday about a major development in the area's mining sector.

Earlier this week, media reported that Ohio-based Cliffs Natural Resources has agreed to purchase and develop the rare chromite deposits in the Ring of Fire, north of Nakina.

Cliffs’ plans on building an open pit mine at the site, plus a railway to get the material to a processing plant near Thunder Bay. Gravelle said the Ministry of Northern Development, Mines and Forestry is interested in the process moving forward.

He said there are tremendous opportunities for the chromite deposit, which can be mixed with iron to become ferrochrome, a key ingredient used in the manufacturing of stainless steel.
The purchase of the chromite deposits from Freewest Resources is still pending. It is anticipated the development could produce upwards of $800,000 tonnes of chromite each year.

Cliffs expects to invest about $800-million in the project.

Source:

http://www.tbnewswatch.com/News/Default.aspx?cid=72494