Feds prepared to spend billions on Ring of Fire – by Len Gillis (Timmins Times – November 18, 2014)

www.timminstimes.co

Federal mines minister Greg Rickford said this week the federal government is ready to ante up its share of infrastructure funding for nationally significant projects such as the Ring of Fire mining development.

But he made it clear that the Province of Ontario will have to pay a share of those costs as well. Rickford, Canada’s Minister of Natural Resources, was speaking at the annual Mining Day event on Parliament Hill on Tuesday. The event was sponsored by the Mining Association of Canada. The Timmins Times requested a copy of his speech.

Rickford, the government MP for Kenora, said he recognizes the importance of mining on both the provincial and national levels, in that it continues to generate tens of billions of dollars to Canada’s GDP (gross domestic product).

“Bottom line – mining is a cornerstone of Canada’s economy and our quality of life,” he said. He admitted that as a Northern MP, he has a continuing local interest.

“My riding has a dynamic mining sector, with some of this country’s biggest mines. As your own figures show, the sector is directly responsible for providing more than 380,000 jobs. The industry is a major employer of Aboriginal Peoples, providing employment to over 10,000 individuals,” Rickford told the audience.

Rickford also said there will be a growing demand in the coming years for minerals and metal products to serve markets in India and China.

He said it means Canada is poised to compete and succeed in those markets.

“Few projects offer greater economic opportunity for Aboriginal and local communities than the Ring of Fire in Ontario and Plan Nord in Quebec,” said Rickford.

The Ring Of Fire refers to the massive mineral deposit located near Webequie, in the James Bay Lowlands, northwest of Timmins. The project is expected to see the development of several new mines in the next 10 to 20 years to extract chromite which is needed to make stainless steel. This would become the first major chromite deposit in North America and could position Ontario as a world player on that market.

“Our Government is committed to being a cooperative partner with industry, provincial governments, Aboriginal groups and others to capture those opportunities.”

Rickford said the federal government has invested more than $30 million in the past four years to support Aboriginal capacity building and business skills development in Northern Ontario, including in the Ring of Fire prospect.

“We are ready to do more,” he added. Rickford said the New Canadian Building Plan, announced last year, is the largest government infrastructure plan in Canadian History.

There is $53-billion set aside for the next ten years he said, and $11-billion of that is to be allocated to Ontario, if the right conditions are met.

“Under this plan, the federal government provides support for major infrastructure projects that could provide significant benefits to Canada, Ontario and local communities, including the Ring of Fire,” said Rickford.

“Should the Government of Ontario identify eligible Ring of Fire related infrastructure projects as a priority, funding will be available to support those projects through the New Building Canada Fund,” he added.

For the original version of this article, click here: http://www.timminstimes.com/2014/11/18/feds-prepared-to-spend-billions-on-ring-of-fire