Noront Resources 'daunted' but excited by Ring of Fire approval
posted on
Jun 23, 2015 08:56AM
NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)
By Jody Porter, CBC News Posted: Jun 23, 2015 7:28 AM ET Last Updated: Jun 23, 2015 7:28 AM ET
The Ring of Fire is a mineral-rich region in Northern Ontario about 500 kilometres north-east of Thunder Bay.
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Noront Resources will need to enhance its consultation with First Nations and study more potential transportation routes after the provincial government made 17 amendments to the company's plan for an environmental assessment for its nickel project in the Ring of Fire.
The Minister of Environment and Climate Change approved Noront's terms of reference last week for the environmental assessment of its planned underground mine north of Pickle Lake, Ont.
The amendments include a requirement for Noront to study four potential transportation routes for moving its ore. The company was looking at two. There are also many amendments prescribing the level of consultation and engagement with First Nations.
"It's a bit daunting, but at the same time we've got our future in our own hands, we know what is expected of us and so that clarity is a great thing to have," said Noront president Alan Coutts.
The company first submitted its plan in October 2012 and people are excited about moving forward, he said.
As the proponent, Noront is responsible for the costs of the environmental assessment. Coutts said that's not a concern as the company is 'all in' in the Ring of Fire.
"We don't have property elsewhere, we intend to be experts, both socially and technically in this region," he said. "That's part of the price of playing."
Noront is assessing its timelines in light of the increased demands of the environmental assessment, Coutts said.
"The original projections were based around the proposed terms of reference and certainly with these amendments that would affect these timelines," he said.
First production at the mine is currently slated for 2018 or 2019, he said.
Among the amendments made by the Ministry of Environment and Climate Change:
http://www.cbc.ca/news/canada/thunder-bay/noront-resources-daunted-but-excited-by-ring-of-fire-approval-1.3123497