KWG Resources Offers Ring of Fire Action Plan
THUNDER BAY – KWG Resources is taking an pro-active approach to the Ring of Fire. The company is suggesting that the Province of Ontario already has the Development Corporation for the Ring of Fie in place.
Company President and CEO Frank Smeenk discussed the details of the company’s Ring Of Fire – Northern Ontario Job Creation Plan, as outlined in its proposed bill “Northland Development Corporation Act”.
HIGHLIGHTS:
Ontario already has a Northern Development Corporation. It is the Ontario Northland Transportation Commission (ONTC).
The principal operating asset of the ONTC is the Ontario Northland Railroad (ONR), which has become starved of freight haulage.
The discoveries of chromite and nickel in the Ring of Fire could create the potential for much heavy-haulage freight business with which the ONR might become economically viable.
The ONTC could be governed by residents of Northern Ontario, raise project financing via capital markets to add to heritage infrastructure facilities desired by northern residents of Ontario whose communities it serves.
This would enable the important participation by those communities, many of which are First Nations.
This would enable development to be undertaken with the necessary social licence together with the discipline of the capital markets, rather than from the public purse.
An overview of the proposed bill can be viewed at http://www.northlanddevelopmentcorporation.com
The proposed bill can be viewed at www.northlanddevelopmentcorporation.com/ndca.html