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Day: September 20, 2011

Gold miners seek to close the gap with bullion – by Brenda Bouw (Globe and Mail – September 20, 2011)

The Globe and Mail is Canada’s national newspaper with the second largest broadsheet circulation in the country. It has enormous influence on Canada’s political and business elite.

VANCOUVER— The world’s top gold miners are forging ahead with expansion plans and higher dividend payments, despite worries that bullion is bound for a correction after a spectacular runup beyond $1,900 (U.S.) an ounce earlier this month.

The companies are vowing to tackle the issue of share values that lag gold prices through aggressive growth plans, rising margins and sweetened dividends, despite the challenges of rising costs and increased competition for investors.

Executives believe that the price of gold will continue to rise and that equities will soon catch up and could even surpass physical gold in returns to investors.

“I do think the equities will respond,” Barrick Gold Corp.chief executive office Aaron Regent told investors at the Denver Gold Show in Colorado Springs, Colo., on Monday. “The equities have not reflected the strong fundamentals of the underlying businesses.”

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Ottawa urged to encourage private-sector projects in remote communities – by Richard Blackwell (Globe and Mail – September 19, 2011)

The Globe and Mail is Canada’s national newspaper with the second largest broadsheet circulation in the country. It has enormous influence on Canada’s political and business elite.

Private sector investment will be crucial if Canada’s remote communities are to grow and prosper, but the federal government must set the stage by cutting red tape and improving education and infrastructure in smaller centres, a new study suggests.

The report, to be released Monday by the Canadian Chamber of Commerce, says a long-term strategy for remote community development is needed, but there are many things the government can do to encourage investment.

The conclusions stem from a series of cross-country round tables conducted with business leaders over the past year, and an online survey, conducted by the chamber in collaboration with General Electric Canada.

The report concluded that remote communities can make a huge contribution to Canada’s overall wealth, mainly because they form the gateway to key resources. Private companies can unlock that wealth, it says, but only if they are encouraged by supportive government policies that can help draw in business investment.

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GREENSTONE MUNICIPALITY MEDIA RELEASE: New report concludes Exton is viable site for Ring of Fire Refinery

Click here for Technical Analysis Report: Energy Supply Related to Exton Ferrochrome Refinery Siting (September 14, 2011)

Click here for: A ‘Made in Greenstone’ Approach: A vision for the successful supply of energy to a ferrochrome refinery in Greenstone (Exton)

For the web’s largest database of articles on the Ring of Fire mining camp, please go to: Ontario’s Ring of Fire Mineral Discovery

THUNDER BAY – September 20, 2011 –  A report released today concludes that siting a ferrochrome refinery at Exton for Ring of Fire minerals is technically, environmentally and economically feasible. George Smitherman and Don Huff were contracted by the Municipality of Greenstone to push for establishing a Chromite refinery at Exton. Exton is located adjacent to the railway in the Municipality of Greenstone between Nakina and the Aroland First Nation.

“Our analysis, with specific emphasis on the viability of supplying electricity to service the proposed arc furnaces concludes that Exton is well positioned to serve as the refinery site,” stated former Ontario Deputy Premier George Smitherman. Smitherman observed, “The Exton site has the significant advantage of fitting with the territorial expectations of First Nations and is economically feasible.”

The Municipality of Greenstone asked that three major themes be addressed:
1. The Exton site must mesh with First Nation aspirations;
2. The viability of supplying adequate power; and
3. Sustainability considerations.

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NEWS RELEASE: Remote. Resource Rich. And Ready. GE Canada releases findings of its “Shaping Economic Growth in Canada’s Remote Communities” Initiative

GE is a global infrastructure, finance and media company taking on the world’s toughest challenges.

For GE’s full report, click here: Towards a Remote Communities Investment Strategy for Canada

FOR IMMEDIATE RELEASE

September 19, 2011

St. John’s, Newfoundland – Elyse Allan, President and Chief Executive Officer of GE Canada, today released the findings of its “Shaping Economic Growth in Canada’s Remote Communities” initiative, launched in January 2011.

Responses from over 500 business stakeholders who participated in 11 cross-country roundtables and an online survey point to the fact that Canada is at a “tipping point” with respect to the development of its resources, largely located in remote communities, and how they will shape the Canadian economy. The report found that 93 percent of respondents believe that remote communities will play an important role in the future of Canada’s economy.

“Canada’s remote communities can pack a powerful economic punch. There is great optimism.
Business investment combined with progressive public policy will unleash significant opportunities for remote communities and for Canada as a nation.” said Elyse Allan.

GE’s initiative formed the basis of the Canadian Chamber of Commerce report: The Business Case for Investing in Canada’s Remote Communities, released earlier today.

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Northern political banner flying in the south – by Wayne Snider (Timmins Daily Press – September 20, 2011)

 The Daily Press, the city of Timmins newspaper. Contact the writer at news@thedailypress.ca.

Northern Ontario Heritage Party fielding three candidates, including one in Toronto

While the Northern Ontario Heritage Party didn’t reach its goal of having candidates in all 11 Northern ridings for this provincial election, it managed to make some progress.

The NOHP has three candidates in the election. Charmaine Romaniuk will represent the party in Kenora-Rainy River and Gerry Courville in Timiskaming-Cochrane.

The biggest surprise is that there will be a NOHP candidate in the heart of Toronto. David Vallance will carry the Northern Ontario banner in the riding of St. Paul. NOHP Leader Ed Deibel said a group in Toronto approached him about fielding a candidate.

“I thought it might not be a bad idea,” he said. “They are closer to all the media based in Southern Ontario, and could get information about Northern Ontario out there.” But having the Toronto group conduct research is a key component to their involvement in Northern politics.

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