Roads may come before mines
posted on
Mar 24, 2016 01:23PM
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)
Posted: Thursday, March 24, 2016 1:00 pm | Updated: 1:01 pm, Thu Mar 24, 2016.
BY CARL CLUTCHEY NORTH SHORE BUREAU | 0 comments
With the excitement that used to accompany potential Ring of Fire mining development pretty much worn off these days, mining companies and job-seekers alike might have to get used to a go-slow approach that could last several years, if not decades.
That was the feeling on Wednesday, the day after the federal Liberals failed to reference the rich mining belt in their first budget.
"I think things are still moving forward (in the RoF), but maybe at a snail's pace," said Garry Clark, the Thunder Bay-based executive-director of the Ontario Prospectors Association.
Some thought the federal Liberals would use the budget to match the Ontario government's own commitment of $1 billion for RoF infrastructure, something the Ontario Liberals had failed to convince the former Harper government to do.
"Despite $30 billion (worth) of promises, the (Trudeau) government failed to move on FedNor (and) did not mention the Ring of Fire," NDP MP Charlie Angus (Timmins-James Bay) said.
Kenora Liberal MP Bob Nault said the lack of a specific reference in the budget doesn't mean the feds have written off the RoF.
He noted ongoing discussions between First Nation groups and the Ontario government about potential routes for all-weather roads, which he says could well be constructed before any mines are built.
"If the political will is there, then these roads are long overdue," said Nault. "Of course we should be moving ahead with a main trunk road."
Ontario remains the only Canadian Shield province without a main, year-round road into its far north.
Seeming to echo the position of the former Harper government, Nault said the governing Liberals would be open to funding RoF infrastructure once definitive studies into road routes and hydro lines have been finalized.
In Tuesday's budget, the Liberals said they will invest $11.9 billion to build roads, bridges, community centres and improve water and wastewater facilities across the country.
"It's a proposal-driven process," Nault said. "I don't think Mr. Angus understands that."
Nault also suggested the province may be making a mistake by constantly touting its $1-bilion commitment.
"It sounds good, but what if it's a lot more than that?" he said.
With the downturn in China's economy, some have speculated of late that RoF mineral development could now be a long ways off.
Clark said he wasn't feeling that gloomy, noting that some mining stocks have been picking up lately.
"They're still making automobiles in China," he said., adding that the mood at the Prospectors & Developers Association of Canada meeting earlier this month was "pretty buoyant."