InvestorsHub Logo
Followers 23
Posts 3662
Boards Moderated 0
Alias Born 01/02/2003

Re: None

Wednesday, 11/19/2014 10:19:22 AM

Wednesday, November 19, 2014 10:19:22 AM

Post# of 69
Important that "Ring of Fire infrastructure is completed for The Wassabi [sic] project to move forward
"The Globe and Mail reports in its Wednesday, Nov. 19, edition that plans to spend billions of federal and provincial dollars on infrastructure in Ontario are being held up by a behind-the-scenes battle over the Ring of Fire, as the province wants Ottawa to match $1-billion in new money to develop the ambitious mining project. The Globe's Bill Curry writes that the Tory government is expressing its strong frustration that Ontario has yet to submit a list of projects. Ottawa has said Ontario qualifies for $2.7-billion from the fund, but the province argues that using that money for the Ring of Fire would leave very little for other provincial needs such as transit and new roads. As a result, the two governments appear to be at loggerheads, though ministers and officials are attempting to break the impasse. The waiting, combined with falling chromite prices, has Cliffs Natural Resources, the region's leading mining firm, looking to sell its Ring of Fire assets. Noront Resources has assets in the region it wants to develop. Noront boss Alan Coutts says once one project is up and running everyone will then see "these benefits are going to actually accrue to them."

Day Range:
Last Trade Time:
Total Trades:
  • 1D
  • 1M
  • 3M
  • 6M
  • 1Y
  • 5Y
Recent DHR News