Will debt, liability and Indigenous action see the sun set on the Ring of Fire? – by Anna Stanley (The Conversation – November 1, 2021)


Noront Resources Ltd. — the company at the heart of Ontario’s embattled Ring of Fire mining development — is once again making headlines as the subject of competing corporate takeover bids by mining giant BHP Billiton and Australian private investment firm Wyloo Metals.

The bidding war has caused Noront’s share price to jump 235 per cent to its highest level since 2011. Alongside share prices, Indigenous opposition has also ratcheted up, raising significant questions about the viability of the proposed mining operations and the value of Noront’s assets.

The Neskantaga First Nation and the Mushkegowuk council, representing seven affected First Nations, are openly contesting the scale and pace of mine development in their territories.

They are in the company of other First Nations throughout the region that have for years asserted their political and territorial authority in the face of Noront’s proposed plans. Indigenous jurisdiction and its denial by authorities have had a huge impact on Noront’s fortunes.

For the rest of this column: https://theconversation.com/will-debt-liability-and-indigenous-action-see-the-sun-set-on-the-ring-of-fire-169311