Established in 1980, Northern Ontario Business provides Canadians and international investors with relevant, current and insightful editorial content and business news information about Ontario’s vibrant and resource-rich North. Ian Ross is the editor of Northern Ontario Business ianross@nob.on.ca.
The province’s billion-dollar promise to jump-start development in the Ring of Fire was not lost on the exploration companies operating in the James Bay region.
Earlier this week, the Wynne government announced it was earmarking $1 billion in its May 1 spring budget to develop transportation infrastructure to reach the Far North mineral exploration camp.
They challenged the federal government and Natural Resources Minster Greg Rickford to provide matching dollars on this “next great mining development” for Canada. “There’s an element of politics involved for sure, but ultimately no infrastructure gets built without funding,” said Alan Coutts, president and CEO of Noront Resources.
He called the funding a “logical next step” that dovetails with the province’s creation of a Ring of Fire development corporation and the signing of a framework agreement with the Matawa chiefs to begin negotiating how development will unfold.