This article was orginally published in Northern Ontario Business on December 23, 2009. Established in 1980, Northern Ontario Business provides Canadians and international investors with relevant, current and insightful editorial content and business news information about Ontario’s vibrant and resource-rich North.
For an extensive list of articles on this mineral discovery, please go to: Ontario’s Ring of Fire Mineral Discovery
Bob Middleton likens the discovery of chromite in the James Bay Lowlands to the 1903 Cobalt silver discovery that opened up Northern Ontario and created the great mining camps of Timmins and Kirkland Lake.
The potential impact of a massive open-pit mine, ore processing facilities and a railway into McFauld’s Lake, as proposed by Cliffs Natural Recources, will be a life-style changer for many living in remote First Nation communities, said the exploration industry veteran.
“It’s going to change the economy of this whole region,” said Middleton, director of Aboriginal and regulatory affairs with Canada Chrome Corp.
Cliffs’ $240 million stock offer to Freewest Resources, which together with KWG and Spider Resources, found some of the richest chromite deposits in the world, will be voted on by Freewest shareholders in January. The Freewest board is recommending approval of the Cliffs offer.
Middleton outlined his company’s role in a high-grade chromite resource in the area now called the Ring of Fire during a presentation at the Ontario Exploration and Geoscience Symposium, Dec. 16, 2009 in Sudbury.
Canada Chrome is a subsidiary of KWG Resources Inc., one of the companies involved in the $1.5 billion development, which includes an $800-million mine scheduled to go into production by 2015.
Cleveland, Ohio-based Cliffs, a global iron ore pellet and coal producer and an established industrial railway builder, is expanding into the stainless steel market with the development of North America’s first chromite mine.