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[Ring of Fire] A Market For Chrome – by Brian Sylvester (Mining Markets – September, 2009)

Please note this article was originally published in Mining Markets in September 2009. Much has changed in the Ring of Fire since then and this article is posted here for archival reasons. – Stan Sudol 

Noront Resources (NOT-V) president and CEO Wes Hanson says the global ferrochrome market is somewhere around 17 million tonnes, while his predecessor and Noront director, Joe Hamilton, believes it’s closer to 12 million.

German firm Heinz Pariser Research is forecasting an average ferrochrome price of US$0.79 per lb. and US$1,600 per tonne until 2017. Raw chromite fetches US$200 per tonne.

With global demand of 14.5 million tonnes (the average of the earlier estimates), the global ferrochrome market is worth about US$23.2 billion. A 5% share of that market would be worth US$1.16 billion annually.

Some rough estimates put the chromite tonnage in the Ring of Fire well into the billions but it takes 2.5 tonnes of chromite to make 1 tonne of ferrochrome. And if you saturate the market with too much production early on, prices will sink and the financial models used to finance development would be rendered useless.

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[Ring of Fire] When In Chrome: A Brief Histroy – by Brian Sylvester (Mining Markets – September, 2009)

Please note this article was originally published in Mining Markets in September 2009. Much has changed in the Ring of Fire since then and this article is posted here for archival reasons. – Stan Sudol

The ‘Ring of Fire’ contains vast gobs of black ore known as chromite. Some wild-eyed folks are speculating that there is enough ‘black gold’ for 100 years worth of production at current demand levels. No junior in the camp really knows how much chromite it has but they are all racing to find out.

Somewhere beneath the labyrinth of peat bogs, meandering streams and shallow lakes, there is a hole in an Archean-aged greenstone belt that started everything.

Two men are largely responsible for drilling that hole and finding Canada’s biggest chromite deposits (as well as others): Spider president and chief operating officer, Neil Novak, who until June was the vice-president of exploration of — you guessed it — Noront Resources; and Richard Nemis, Noront’s former president and CEO, and current chairman emeritus.

Spider was seeking diamond-bearing kimberlites in the McFauld’s Lake area, since dubbed the ‘Ring of Fire’ in the late 1990s when it engineered a joint venture with De Beers Canada. It was a good fit: De Beers had cash and, Spider, prospective concessions.

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[Ring of Fire] Chrome – Brian Sylvester (Mining Markets – September, 2009)

Please note this article was originally published in Mining Markets in September 2009. Much has changed in the Ring of Fire since then and this article is posted for archival reasons. – Stan Sudol

If Las Vegas odds makers were handicapping the field to determine who will be first past the post in the ‘Ring of Fire’ Chromite Derby, Noront Resources (NOT-T) would be the surefire front-runner; Freewest Resources (FWR-V), the dark horse; KWG Resources (KWG-V) and Spider Resources (SPQ-V), the long shots; while Probe Mines (PRB-V) would be the pretender — at least for now.

The winner will publish Canada’s first National Instrument 43-101-compliant resource estimate for a chromite deposit — a feat that could be worth millions.

“I have got the first resource estimate, for sure,” claims Wes Hanson, president and CEO of Noront. “Certainly some of the other players in the camp have very interesting chromite discoveries. Unlike Noront, they are probably about two years behind us in terms of getting it drilled off to a level sufficient enough to allow them to do a 43-101 resource estimate.” While that may or may not be true, Noront’s leader-of-the-pack status did not happen without a plan.

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Peat Resources hopes to fuel the Ring of Fire – Resource World Magazine – (May 2010)

http://www.peatresources.com/

http://www.resourceworld.com/

Dr. Peter Telford, President/CEO of Peat Resources Ltd. [PET-TSXV] has a question. How can Ontario meet its political commitments and achieve northern economic development, specifically, how to meet the need of the Ring of Fire proponents for reasonably priced power?

His company may have the answer. Peat Resources has identified over 200 million tonnes of fuel-grade peat in northwest Ontario, representing about 22 million tonnes of pellets, enough to supply Ontario Power Generation’s northern generating stations for over 20 years. Peat is considered biomass and is used in electricity generating stations requiring a long-term, assured supply of environmentally friendly, economically competitive and consistently stable, quality fuel.

“Before going into production, we need to do some feasibility work and scale up our pilot plant operations to a full-scale production facility at Upsala, located 130 kilometres northwest of Thunder Bay, Ontario,” explained Telford. “Right now we can process about 25 tonnes per day. The plant was set up to prove up the technology that we are using and provide us with material for marketing and testing purposes.”

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Ring of Fire Conference (Thunder Bay Speech) – by the Honourable Michael Gravelle Minister of Northern Development, Mines and Forestry (June 23, 2011)

 

The Ring of Fire Conference in Thunder Bay on June 23, 2011 was by invitation only.

CHECK AGAINST DELIVERY

 Good afternoon, everyone, it is a pleasure to be here. What an exciting day and a half it has been here at the Ring of Fire Conference. It certainly is living up to expectations by promoting insightful dialogue and innovative thinking.

I’ve been asked to join you this afternoon again to share with you my vision and aspirations for the future of the Ring of Fire.  I want to take it a step further by expressing my unequivocal conviction that the dream of sustainable and balanced mineral development can be achieved.

In doing so, I hope that I can inspire your creativity in coming up with innovative and strategic ideas that will help us create and manage the massive infrastructure development efforts required to foster growth in the Ring of Fire and beyond.

Yes, even though the Ring of Fire’s projected potential could mean production could go on for a century, it is important to think of the North’s continued prosperity even beyond the 100 years.

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Ontario’s Mythical & Potentially Lucrative Ring of Fire -by Blogger Milkyminx (January 18, 2011)

Approximately 480 kilometres northeast of Thunder Bay, Ontario is the mythical Ring of Fire, which has, for years, been whispering hope to miners and investors, while steadily disquieting environmentalists.

The story of the Ring is punctuated with surprises.

It begins with junior exploration companies (including Spider Resources Inc., KWG Resources Inc., and Freewest Resources Inc.) digging for diamonds in the McFauld’s Lake area of northern Ontario. None could resist fortune’s lure in the mid 1990s when diamond company, De Beers Canada Inc., began re-examining the area’s diamond-producing kimberlite pipes.

Instead of diamonds, however, they found copper and zinc. But that was enough to spur other small players to begin digging nearby.

Then in 2007, Noront Resources Ltd. found high-grade nickel with copper and palladium, confirming the potency of the area. This excited mine operators, who coined and began publicizing the phrase, “Ring of Fire,” to describe the mineral-rich exploration zone.

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Standing together [Sudbury 2011 Workers Mermorial Day] – by Harold Carmichael (Sudbury Star – June 21, 2011)

The Sudbury Star, the City of Greater Sudbury’s daily newspaper. hcarmichael@thesudburystar.com

Joyce Colasimone did something Monday she had never done before: Talk publicly about the June 20, 1984, rockburst at Falconbridge Mine that claimed the life of husband, Richard Chenier.

“How many people actually stop to think about the rescuers involved?” Colasimone asked a crowd of more than 150 on hand for the 27th Annual Workers Memorial Day ceremonies at the Caruso Club on Monday.

“We call them heroes. Why do we not honour them for rescuing and helping people in accidents? I stand here today to say thanks and I do appreciate the people who responded.

“To the people that have put themselves at risk, I want you to appreciate the bravery within you. You are the true heroes.”

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NEWS RELEASE: Rencore Resources Announces the Signing of an Exploration Agreement with Webequie First Nation

Toronto, Ontario (June 17, 2011) – Rencore Resources Ltd. (CNSX: RNC) (“Rencore” or the “Company”) is pleased to announce that it has signed an exploration agreement with the Webequie First Nation (“WFN”). This agreement is a sign of the cooperative relationship and mutual respect between Rencore and the people of the Webequie FirstNation.

“Webequie First Nation is pleased that more progressive exploration companies like Rencore Resources have made the effort for meaningful engagement and we look forward to a deeper participation and partnership as the exploration program evolves” said Chief Cornelius Wabasse.

Rencore President and CEO, Richard E. Nemis states, “We are very pleased to have reached his agreement and we look forward to a mutually beneficial relationship with the Webequie First Nation”.

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NEWS RELEASE: Cliffs Workers Walk off Job Site in Ring of Fire

Poor working conditions not tolerated by First Nations and Non-Native Workers

Sunday June 19, 2011 – Ring of Fire, Northern Ontario: – Over two dozen First Nation and non-native workers employed by Cliffs Natural Resources have walked off their job-site in the Ring of Fire Mining Camp this weekend. 

Protesting poor wages, deteriorating working conditions and inadequate health & safety infrastructure, workers at the camp are taking an indefinite stand against the Cleveland-based mining giant, Cliffs Natural Resources. 

Workers describe an average week‘s work in the Cliffs Mining Camp as moving out bulk samples of Chromite, weighing up to 200 tons or 400,000 pounds.   This labour intensive work is carried out by hand and manpower exclusively and involves manually loading rocks into 15 gallon pails and onto airplanes.  

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Chance to make decisions [Ontario Think North event] – by Harold Carmichael (Sudbury Star – June 17, 2011)

The Sudbury Star, the City of Greater Sudbury’s daily newspaper. hcarmichael@thesudburystar.com

The Ontario Government is pushing ahead with one of the key planks in the Northern Ontario Growth Plan, says the minister of Northern Development, Mines and Forestry.

“Northerners have said that when decisions are being made, they want it to be an independent not-for-profit policy institute,” Michael Gravelle told reporters Thursday, during a visit to Greater Sudbury to give a speech at the Think North 2 Summit.

“It’s a good chance by northerners to make some decisions on what works. The institute will be able to look for evidence- based advice on what can work the best in Northern Ontario.”

Gravelle said the Northern Ontario Heritage Fund Corporation will provide $5 million to get the new policy institute running. One of the first steps in the process, he said, will be to get a board of governors and a board of directors in place.

The minister also said he has met with Laurentian University president Dominic Giroux and Lakehead president Brian Stevenson and asked for their advice on the policy institute since both have a strong background and experience in preparing policy.

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NEWS RELEASE: Project Manager, Mining Services Announced for the Thunder Bay CEDC

June 17, 2011 – The Thunder Bay Community Economic Development Commission (CEDC) is pleased to announce the appointment of John Mason as Project Manager, Mining Services. The appointment follows an extensive search.

Mr. Mason has 36 years of service with the Ministry of Northern Development, Mines and Forestry and has published numerous geological reports. He is well-known for his in-depth knowledge and skills in the Ontario and Canadian exploration and mining sector and for his exceptional ability to market Ontario’s vast mineral potential. He is a Registered Professional Geoscientist with an Honours Bachelor of Science in Geology degree from Lakehead University. Mr. Mason officially assumed his duties at the Thunder Bay CEDC on Monday, June 13, 2011.

“John’s mining expertise dramatically contributes to the bench strength of the CEDC, the strategic importance of the mining resource sector and to the goals of the CEDC’s Strategic Plan to realize the full economic investment potential and job creation for the region and for the Province of Ontario,” said Steve Demmings, CEO of the CEDC.

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Ontario’s Ring of Fire: An Issue of Sustainability – by Patrick Whiteway (Canadian Mining Review Blog – May 29, 2011)

Canadian Mining Review: Discussing ideas and issues related to mining in Canada 

Our national mineral development strategy should include a requirement
to use mineral resources to our advantage by processing them prior to export.
(Patrick Whiteway)

The close proximity of Ontario’s Ring of Fire, Manitoba’s Thompson Nickel Belt and low carbon-emitting hydro power, give Canada an unparalleled opportunity to become a long-term, sustainable producer of stainless steel, the enviro-metal. If only the sustainability of the northern boreal forest could be assured as well.

Massive deposits of chromite and nickel have been discovered in the ‘Ring of Fire’ under the boreal forest of northwestern Ontario and plans by Cliffs Natural Resources and Noront Resources respectively to develop them are well underway. How this development is managed by the federal and provincial governments could be historically significant for resource development in Canada.

The scale of the undertaking is huge. It could, in the next 10 years, create Canada’s first chromite mine and with an appropriate level of visionary leadership, could also transform Canada into the lowest-carbon-emitting source of stainless steel on the planet.

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[Sudbury Basin’s] ‘Victoria’s secret’ has eyes popping in Canada’s mining industry – by Lisa Wright (Toronto Star – June 14, 2011)

Lisa Wright is a business reporter with the Toronto Star, which has the largest circulation in Canada. The paper has an enormous impact on Canada’s federal and provincial politics as well as shaping public opinion.

“After almost 130 years of mining activity, it’s amazing that we keep finding
such significant and rich deposits like the Victoria mine,” says mining industry
consultant and Sudbury native Stan Sudol. “The Sudbury basin has not given up
all her geological secrets—not by a long shot,” adds Sudol, who writes the
popular RepublicOfMining.com blog.

Michael Winship laughs when he thinks of the racy nickname his colleagues gave to a grubby nickel deposit with 110-year-old working roots in the Sudbury basin.

Though the new chief operating officer of Quadra FNX Mining Ltd. has spent more than 30 years in the metals game, you don’t have to have his globe-trotting resume to know that mine sites aren’t the least bit sexy or glamorous environments to set foot in.

But considering the jaw-dropping find that the Toronto firm’s geologists recently made just a kilometre from the previously-mined Victoria site — and which they quietly felt for some time could turn into something spectacular — the cheeky ‘Victoria’s secret’ moniker fits just fine. “We’ve got one of the richest deposits in Sudbury in the last few decades,” the affable Winship says in an interview.

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Rafting down the Albany River to the Ring of Fire – by Tanya Talaga (Toronto Star – June 12, 2011)

Tanya Talaga is the Queen’s Park reporter with the Toronto Star, which has the largest circulation in Canada. The paper has an enormous impact on Canada’s federal and provincial politics as well as shaping public opinion.

For an extensive list of articles on this mineral discovery, please go to: Ontario’s Ring of Fire Mineral Discovery

ALBANY RIVER, ONT.

There is a Cree legend about the insatiable appetite of big brother. Always famished, big brother demands his little brother work harder to bring him more timber, gold and fuel so he can feed his hungry belly.

Ed Metatawabin tells this story from a wooden raft as it slowly makes its way through the pummeling rain down the 1,000-kilometre-long Albany River in Ontario’s Far North.

Directly above the Albany lies the Ring of Fire — more than 5,000 square kilometres of pristine wilderness that is believed to contain a $30 billion deposit of chromite, the ore used to make stainless steel. Prospectors also say a treasure trove of platinum and diamonds lies underneath.

But the pursuit of these riches means little brother must blast, bulldoze and bigfoot through the Albany watershed, the surrounding boreal forest and the swampy peatland of the Hudson Bay lowlands.

The race to develop the ring is already furiously underway. International mining companies have staked more than 9,000 claims covering 480,000 hectares. All-weather roads, bridges and a railway line are being planned to transport the precious ore south.

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An Ontario gold rush – by Christina Blizzard (Toronto Sun – June 10, 2011)

Christina Blizzard is the Queen’s Park columnist for the Toronto Sun, the city’s daily tabloid newspaper.  christina.blizzard@sunmedia.ca

Remember a couple of years ago, Premier Dalton McGuinty said this province
 could no longer count on “pulling stuff out of the ground” for jobs? All goes to
show just how wrong he was. And how out of touch, not just with northern Ontario,
but with the economy. (Christina Blizzard – June 10, 2011)

Mining companies spending billions here in search of riches. So why did Dalton McGuinty blow them off?

Skyrocketing world gold prices are providing a boost to this province’s northern economy, as mining companies look to old mines in search of the precious metal.

Detour Lake gold mine, near Cochrane, will be the largest gold mine in Canada when it starts production in 2013. Based on today’s spot gold price, it will generate more than $1 billion a year for 21 years, says Detour Gold President and CEO Gerald Panneton.

And while the price of gold, like all resources, fluctuates, he says gold’s been around for 6,000 years and it’s here to stay. “People have tried to push it away and then get rid of it, but it always came back,” Panneton said in an interview.

Gold is tough to replace and is the most versatile, malleable element you can find. “If you try to accumulate value in silver or copper or zinc, you’ll need a huge warehouse,” he said.

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