Ring of Fire developer KWG Resources and Marten Falls First Nation have agreed to negotiate the terms of a chromite mining partnership agreement in the Ring of Fire.
The two parties are fresh from a May trip to China to meet with KWG’s project partner, China Railway First Survey & Design Institute Group, to hear some encouraging results of a rail corridor feasibility study.
A proposed north-south rail corridor, once staked by KWG, crosses the traditional territory of Marten Falls. A June 6 KWG release proposes an equal profit-sharing partnership “that may be derived from mining activities after provision for fully-absorbed manufacturing costs, including comminution, concentration and transportation, plus reclamation, and the amortization of project-finance borrowings.”
Marten Falls Chief Bruce Achneepineskum said through a company release that he’s “encouraged” by what he’s seen and heard.
“KWG’s partnership proposal is within the spirit of equal sharing of the fruits of our lands as our ancestors had agreed to under Treaty 9. We will now try to fix the commercial terms of this massive undertaking.
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