HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

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)

Free
Message: from Ministry of Energy, Northern Development and Mines

MINISTRY OF ENERGY, NORTHERN DEVELOPMENT AND MINES

Top of Form

 Ring of Fire

The Ring of Fire is one of the most promising mineral development opportunities in Ontario in over a century. Located in Ontario’s Far North, current estimates suggest a multi-generational potential of chromite production, as well as significant production of nickel, copper and platinum.

Mining investment

Ontario is Canada’s No. 1 mineral producer and a global centre for mining expertise and mining financial capital. Its mining industry creates about 26,000 direct and 50,000 indirect jobs, and is the third-largest private sector employer of Indigenous people in the province.

Noront Resources is the largest claim holder in the Ring of Fire. Noront is planning to develop its Eagles Nest nickel mine first, followed by chromite mines. In May 2019, the company announced Sault Ste. Marie will be the future home for a new ferrochrome processing plant. Chromite, one of the resources found in the Ring of Fire, can be processed into ferrochrome, a key ingredient in stainless steel.

First Nations partnerships

The Ring of Fire represents a major economic opportunity to create jobs, generate revenue, build infrastructure and bring prosperity to communities across the north, including First Nation communities.

Ontario is working directly with First Nation partners through bilateral agreements. Agreements between Ontario and First Nations partners support individual communities’ unique needs and priorities for development. This will help build the necessary infrastructure to unlock the incredible potential of mineral resources in the Ring of Fire – for the benefit of First Nations and all people in Ontario.

Ontario remains committed to meeting its constitutional and other obligations, including meeting the duty to consult.

Building roads

Better road infrastructure in the north, including all-season roads, can reduce the cost of delivering consumer goods, fuel and construction materials. Roads also provide communities with better access to primary health care and other services.

Marten Falls First Nation and Webequie First Nation are moving forward as proponents for Environment Assessments for their individual road projects.

Exploration and development

Several significant mineral discoveries have been made in the Ring of Fire over the past several years, including chromite, copper, zinc, gold and kimberlite.

Activities in the Ring of Fire are in the exploration stage, with spending on exploration to date totaling more than $278 million. There are currently approximately 13,296 active mining claim units held by 18 companies and individuals, covering approximately 2,127 square kilometres in the Ring of Fire.

Share
New Message
Please login to post a reply