24th April 2015

NDP NEWS RELEASE: CONSERVATIVE BUDGET COMPLETELY IGNORES RING OF FIRE

OTTAWA – (April 23, 2015) While NDP Mining critic Claude Gravelle (Nickel Belt) and NDP Special Advisor to the Ring of Fire Howard Hampton were visiting communities involved in the Ring of Fire development, the Conservatives presented a budget that offers nothing to get shovels in the ground and the project started.

“The Ring of Fire is an incredible opportunity to invest in good sustainable jobs for the middle class in Northern Ontario,” said Gravelle. “Northern Ontarians want this project and the Ottawa Conservatives simply won’t listen.”

Not only does Budget 2015 make no mention of Northern Ontario, it fails to allocate any funding for the Ring of Fire.

“This is a project that will benefit not just Northern Ontarians, but the province for generations to come,” said Hampton. “The Conservatives must sit down with First Nations, the Province of Ontario and Northern communities and get moving on the Ring of Fire.”

Tom Mulcair and the NDP are committed to continuing to build relationships across Northern Ontario and supporting the development of the Ring of Fire. Read the rest of this entry »

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24th April 2015

‘Ring of Fire’ asset sale descends into chaos – by Peter Koven (National Post – April 24, 2015)

The National Post is Canada’s second largest national paper.

The sale of prized chromite assets in Northern Ontario’s “Ring of Fire” mineral belt has descended into chaos, according to sources and court filings, with multiple bidders and dissenters and no certainty about the endgame.

The whole mess should be sorted out on Friday, when the Quebec Superior Court will listen to arguments and determine how the contested bidding process should proceed. Until recently, this process did not seem controversial in the least.

On March 23, Noront Resources Ltd. announced a deal to buy the chromite assets from Cliffs Natural Resources Inc. for US$20 million. Cliffs is making a much-publicized retreat from Canada, and sold the assets for a fraction of what it paid to acquire them.

The Noront deal was expected to close in mid-April. But on April 13, Cliffs received a $23 million rival bid for the assets, court filings show, which prompted another round of bidding and a disputed result. Additionally, four First Nations groups are contesting Noront’s takeover and told the Superior Court they are plotting their own bid. (Cliffs’ Canadian unit is currently in creditor protection, meaning everything is being done through the courts.) Read the rest of this entry »

posted in Canada Mining, Canadian Media Resource Articles, Cliffs Natural Resources, Ontario Mining, Ontario's Ring of Fire Mineral Discovery | 0 Comments

22nd April 2015

Federal budget 2015 promises funds for Ring of Fire, forestry – (CBC News Thunder Bay – April 22, 2015)

http://www.cbc.ca/news/canada/thunder-bay

Tuesday’s budget also extends mining exploration tax credit

The federal budget holds plenty of funds for northwestern Ontario, according to Natural Resources Minister Greg Rickford.

Rickford, the Conservative MP for the riding of Kenora, said the government will spend $23 million over five years for chromite processing. Chromite is the key mineral in the Ring of Fire mining development area. There were other mining benefits, as well.

“We’ve extended the mining exploration tax credit and expanded the definition of mining exploration expenses to include the costs of community consultations and environmental assessment process to be 100 per cent deductible, effective immediately,” he said on Tuesday.

The Conservative government tabled the federal budget on Tuesday with a $1.4 billion surplus, down from $6.4 billion projected a year ago and $1.9 billion in November.

The budget also includes $86 million over two years for small forest companies to spend on innovation and expanding markets. Read the rest of this entry »

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20th April 2015

Noront COO dies suddenly – by Carol Mulligan (Sudbury Star – April 20, 2015)

The Sudbury Star is the City of Greater Sudbury’s daily newspaper.

The man who was the face of Noront Resources Ltd. in Northern Ontario died suddenly last week.

Paul Semple, Noront’s chief operating officer, was known and respected in the towns of Northern Ontario, First Nation communities and in the halls of government, the company said in a news release.

Semple helped shape the culture and philosophy of Noront, and his guidance and leadership will be sorely missed,” Noront said in a news release.

“As a company, we will honour his legacy by continuing to forge strong relationships and dealing honestly and inclusively with all our stakeholders,” the company said.

Noront is focused on developing the high-grade Eagle’s Nest nickel, copper, platinum and palladium deposit, and the high-grade Blackbird chromite deposit, both located in the James Bay Lowlands of Ontario in the Ring of Fire. Read the rest of this entry »

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17th April 2015

Marten Falls First Nation and Webequie First Nation Sign Ring of Fire Protocol Agreement – by James Murray (Netnewsledger.com – April 17, 2015)

http://www.netnewsledger.com/

THUNDER BAY – The First Nations whose lands and resources will be most affected by the proposed Ring of Fire development met today to sign a protocol agreement. “This will not only be good for us, but will also be good for the exploration companies to know the protocols for exploration on our mutual traditional lands”, stated Chief Cornelius Wabasse of Webequie First Nation.

Marten Falls First Nation and Webequie First Nation today entered into a “Negotiation Protocol Respecting Early Exploration in the Ring of Fire”. The protocol strengthens the commitment of both First Nations to work together to advance their common interests in a coordinated manner while respecting their mutual and unique interests over their respective lands and approvals to use the lands.

The need for such a protocol is evidenced by over 100 mineral exploration companies that have staked claims and proposed other related developments in the Ring of Fire. Both Marten Falls and Webequie agreed that they had to be come together to set out their mutual expectations respecting early exploration activities in the Ring of Fire.

Within the Ring of Fire only Webequie and Marten Falls share a unique relationship with Ontario. The Government of Ontario entered into a Memorandum of Cooperation with Webequie and a Memorandum of Understanding with Marten Falls related to mineral exploration and development activities. Read the rest of this entry »

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17th April 2015

News Release: Noront Resources Announces Death of Chief Operating Officer Paul Semple

TORONTO, ON–(Marketwired – April 17, 2015) – It is with great sadness that Noront Resources Ltd. (Noront) announces the sudden passing of Chief Operating Officer, Paul Semple, a well-known and respected leader in the mining industry.

Paul joined Noront in 2009, and for many people he was the face and voice of Noront. He was known and respected in the towns of Northern Ontario, First Nation communities and in the halls of government. Paul helped to shape the culture and philosophy of our company and his guidance and leadership will be sorely missed. As a company, we will honour his legacy by continuing to forge strong relationships and dealing honestly and inclusively with all our stakeholders.

Noront Resources Ltd. is focused on development of the high-grade Eagle’s Nest nickel, copper, platinum and palladium deposit and the high-grade Blackbird chromite deposit, both of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire. www.norontresources.com

For more information:

Janice Mandel for Noront Resources

janice.mandel@stringcom.com
(647) 300-3853

posted in Ontario's Ring of Fire Mineral Discovery | 0 Comments

17th April 2015

Activist leads America’s biggest iron miner out of Ring of Fire, but not danger – by Stephen Gandel (Fortune Magazine – April 16, 2015)

https://fortune.com/

Hedge fund Casablanca Capital took over mining company Cliffs Natural eight months ago. So far, it’s not going so well.

These days, activist investors paint themselves as Wall Street’s turnaround specialists. Activists’ track record at getting companies to boost their share buyback programs, hand over board seats, or put themselves up for sale has been impressive. But when it comes to actually turning around a troubled company, or steering a company away from trouble, the jury on activism is still out.

Last July, activist hedge fund Casablanca Capital won control of the board of mining company Cliffs Natural Resources CLF -3.63% after a six-month proxy fight. Days later, the hedge fund installed a new CEO and said that it had a new strategy to increase shareholder value. Eight-and-a-half months later, Cliffs’ stock has plunged 69%. So much for increasing shareholder value.

To be sure, Casablanca’s biggest problem has been commodities prices, which are out of the hedge fund’s control. Cliffs is the largest U.S. miner of iron. And iron prices in 2014 fell nearly 50% in 2014. That drop has taken Cliffs’ cashflow with it.

But Cliffs was also over leveraged. And it may have tried to do too much too soon. The hedge fund may have also underestimated how hard it would be to compete against its larger and more diversified competitors, such as Rio Tinta Group and BHP Billiton. Read the rest of this entry »

posted in Cliffs Natural Resources, International Media Resource Articles, Iron Ore, Ontario's Ring of Fire Mineral Discovery, United States Mining | 0 Comments

14th April 2015

COMMENT: First Nations beating war drums – by Marilyn Scales (Canadian Mining Journal – April 13, 2015)

Marilyn Scales is a field editor for the Canadian Mining Journal, Canada’s first mining publication. She is one of Canada’s most senior mining commentators.

I read a couple news releases last week involving complaints by First Nations about being left out of resource development decisions. No one doubts that they must be included. The Supreme Court of Canada’s recent rulings give weight to their claims.

But what is to be gained by opposing Noront’s desire to acquire those lands abandoned by Cliffs Natural Resources?

Chief Sonny Gagnon of Aroland First Nation put it thus: “With Noront’s announcement that it is trying to acquire the Cliffs assets, our First Nations have effectively been denied a real opportunity to benefit from key resources in our lands on our terms. This unilateral move by Noront is unacceptable to our First Nations.”

To say the First Nations have been sidelined already is a bit premature. Unless the chief is intimating that the First Nations have the wherewithal (think money) to buy out Cliffs and stage a multi-billion-dollar resource development themselves.

If the First Nations have a beef with Noront or don’t want to meet the company to work out economic participation, why is that? Again and again Canadian companies have shown that they welcome First Nation participation on many levels. Read the rest of this entry »

posted in Aboriginal and Inuit Mining, Canadian Media Resource Articles, Ontario Mining, Ontario's Ring of Fire Mineral Discovery | 1 Comment

13th April 2015

First nations oppose Ring of Fire sale – by Staff (Sudbury Star – April 13, 2015)

The Sudbury Star is the City of Greater Sudbury’s daily newspaper.

Two first nation communities in the James Bay lowlands are protesting the proposed takeover of Ring of Fire assets by a Toronto-based company. In early March, Noront Resources Inc. announced it plans to buy the chromite assets owned by Cliffs Natural Resources, based out of Cleveland, for $20 million.

The chiefs of Marten Falls and Aroland First Nations, however, are now speaking out against this move, saying it will tread on their rights and prevent them from reaping the economic opportunities to which they are entitled.

“Our first nations have effectively been denied a real opportunity to benefit from key resources in our lands on our terms,” said Chief Sonny Gagnon of Aroland First Nation in a release issued Friday. “This unilateral move by Noront is unacceptable to our first nations.”

Bruce Achneepineskum, interim chief of Marten Falls First Nation, said the deal represents an “old way of thinking” when it comes to development in native lands.

“Progressive mining companies are inclusive, share resources equitably with indigenous peoples, and know that only real partnerships protect our rights, interests and environment,” he argued in the release. Read the rest of this entry »

posted in Aboriginal and Inuit Mining, Northern Ontario/Canada Regional Media, Ontario Mining, Ontario's Ring of Fire Mineral Discovery, Stan Sudol Columns/Media References and Appearances | 0 Comments

10th April 2015

MEDIA RELEASE: FIRST NATION CHIEFS OPPOSE NORONT’S PURCHASE OF CLIFFS’ ASSETS IN THE RING OF FIRE

Aroland First Nation

Marten Falls First Nation

Marten Falls First Nation, Ontario – April 10, 2015. The Chiefs of Marten Falls First Nation and Aroland First Nation re-affirmed today their opposition to Noront Resources’ proposed purchase of Cliffs Natural Resources’ chromite assets.

Interim Chief Bruce Achneepineskum of Marten Falls First Nation and Chief Sonny Gagnon of Aroland First Nation met for two days this week with their advisors at a Bay Street law office in Toronto to review the status of the proposed Noront purchase of Cliffs chromite assets in the Ring of Fire. The Cliffs assets are in Marten Falls’ traditional territory. The proposed North-South corridor, which is essential to haul ore
out of the Ring of Fire, is in the traditional territory of both First Nations.

“With Noront’s announcement that it is trying to acquire the Cliffs assets, our First Nations have effectively been denied a real opportunity to benefit from key resources in our lands on our terms,” said Chief Gagnon. “This unilateral move by Noront is unacceptable to our First Nations.”

“We oppose this old way of thinking about mining and trampling on First Nation rights,” said Interim Chief Achneepineskum. “The world has changed. Read the rest of this entry »

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9th April 2015

Bob Rae Speech on Canadian First Nations Water Issues (Canadian Water Network Ottawa Conference – March 10-12, 2015)

CWR2015 – Bob Rae from Canadian Water Network on Vimeo.

Click here for more video presentations: http://cwr2015.ca/presentations-videos/

posted in Aboriginal and Inuit Mining, Ontario Mining, Ontario's Ring of Fire Mineral Discovery | 0 Comments

7th April 2015

A new deal for the Ring of Fire – by Rick Millette (Thunder Bay Chronicle-Journal – April 5, 2015)

Thunder Bay Chronicle-Journal is the daily newspaper of Northwestern Ontario.

Rick Millette is senior executive director: Ring of Fire at Northern Policy Institute.

The cards have been shuffled on the ownership and history of the Ring of Fire. Noront Resources has made a brilliant play in buying the claims of Cliffs Natural Resources for a small fraction of what was originally paid for them. Noront’s shares jumped on the news. Optimism has returned.

The recent announcement of a road study for an east-west link to First Nations communities near the Ring has furthered hopes for movement on the entire project. The study is inclusive of the Matawa Tribal Council.

Some of their communities will be connected to the outside world in a way that will help improve living conditions by making everything from food to building materials more affordable. And, whatever route the road takes, it will get Noront closer to its proposed mine site.

The cherry on the cake is that the joint federal-provincial funding of the road study has served as an olive branch, calming the stormy rhetoric between the two levels of government. From shareholders, to landholders, to vote holders, everyone is beaming. Read the rest of this entry »

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30th March 2015

An idea for Ring of Fire’s riches – by Tom Mills (Sault Star – March 28, 2015)

http://www.saultstar.com/

Ontario should look to socialist Norway if it wants to capitalize on the rich mineral deposits of the far north’s Ring of Fire.

Like Canada, Norway has a resource-based economy, exploiting extensive reserves of oil, natural gas minerals and lumber. Half its export revenues come from oil and gas.

Unlike Canada, Norway is not in hock up to its eyeballs. In fact, it’s the second-wealthiest country in the world. Every Norwegian is, theoretically, a millionaire. That’s a million kroner, which translates to about $177,000 US apiece.

That’s because, unlike many other resource-rich countries and provinces, Norway put its oil revenues, from taxes, fees and ownership stakes, into a fund where politicians couldn’t get their spendthrift hands on them.

The money was invested in financial markets outside Norway. It grew. Their sovereign wealth fund, created a mere 20 years ago, now controls about one per cent of all publicly traded shares in the world. Read the rest of this entry »

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27th March 2015

Noront CEO says new acquisition changes how industry, First Nations and goverment work together – by Matt Vis (tbnewswatch.com – March 27, 2015)

http://www.tbnewswatch.com/default.aspx

THUNDER BAY – The president and CEO of Noront Natural Resources acknowledges the acquisition of the claims formerly held by Cliffs Natural Resources is a game changer for the Ring of Fire.

Alan Coutts was in Thunder Bay on Friday in hopes of meeting with Matawa chiefs regarding the announcement earlier this week of Noront now holding nearly 65 per cent of the Ring of Fire.

While he did not get to meet with the chiefs, he said the consultation process needs to be completely re-evaluated. “I think we’ll probably have to take a couple of steps backwards to change the relationship and dialogue but ultimately it will allow us to go forward a lot further,” Coutts said at the company’s Thunder Bay office.

“We’re potentially redefining the landscape of how industry, First Nations and government work together for the entire nation.”

Matawa chiefs expressed concern about the sale, accusing the company of working outside of the framework agreement that had been signed last year and objecting to First Nations not having any input in the transaction. Read the rest of this entry »

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27th March 2015

Noront buys Cliffs’ stake in the Ring of Fire – Barry Mercer Interviews Noront CEO Alan Coutts (March 23, 2015)

http://www.cbc.ca/news/canada/sudbury

Cliffs announced it has sold its Ring of Fire stake to Noront Resources for $20 million.

Click here for the interview: http://www.cbc.ca/player/Radio/Local+Shows/Ontario/Up+North/ID/2660345759/

posted in Canadian Media Resource Articles, Northern Ontario/Canada Regional Media, Ontario's Ring of Fire Mineral Discovery | Comments Off

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