“There was a period where China was very aggressively investing outside its borders,” said Alan Coutts, president and chief executive of Noront Resources Ltd. “And because Canada has very big mineral endowments, of course they invested here.”

Noront is developing the Ring of Fire district in Northern Ontario’s James Bay lowlands, considered one of the largest mineral discoveries in Canada in recent decades, and will initially include a nickel-copper-palladium mine and a chromite mine.

Not surprisingly, the massive project has received Chinese support. In 2011, Baosteel Resources International Inc, a Hong Kong-based, Chinese state-owned company invested $17.7 million for a 9.9 per cent stake in Noront — since reduced to seven per cent — and a board seat. Coutts said that as the company looks to raise close to $2 billion to build its mines and a ferrochrome smelter, it will likely see if Baosteel would invest again.

“Having a long term arrangement with the Chinese and their insatiable demand and deep pockets is not a bad strategy,” he said."

Link Below:

https://www.thesudburystar.com/business-2/chinese-money-to-help-develop-ring-of-fire

Chinese money to help develop Ring of Fire

Gabriel Friedman Financial Post 
More from Gabriel Friedman Financial Post

Published on: August 5, 2018 | Last Updated: August 5, 2018 1:52 PM EDT

Across Canada, as mining companies have struggled to raise money, many have turned to Chinese, often state-owned, companies, which have evolved from a source of capital into various types of partnerships and leadership roles. Many mining executives see these relationships as a key to future growth and vital to meet their financing needs, noting China is the world's most insatiable commodity consumer.