First Nation community takes partial stake in mining company in share deal
Noront Resources, the largest claim holder in the Ring of Fire, said it’s doing its part to expedite road development into the mineral-rich Far North.
The Toronto mine developer also announced on April 10 that one of its First Nation community partners is now officially a part owner of the company.
Since the province announced last summer that it was starting the design and environmental work before the start of building two access road corridors into the Ring of Fire, Noront said it’s been pitching in to help area First Nation communities better understand what’s coming by making environmental assessment and engineering studies available to residents. The company hopes it will move the permitting process along.
The province, Noront said, has assembled a team comprised of four ministries to provide “support and guidance” to the communities. Environmental fieldwork began earlier this year to upgrade existing roads, which will connect with these new shared industry and community access roads.
The company expects the province to file a project description by the middle of this year. Queen’s Park plans to begin road construction sometime in 2019.