Noront Resources shares surged 38 per cent Monday after the company concluded a US$20-million deal to buy chromite mining claims in the remote Ring of Fire area owned indirectly by Cleveland-based iron ore producer Cliffs Natural Resources Inc.
The Ring of Fire mineral region is no closer to development than it was a year ago, says an Ontario Chamber of Commerce report card that gives the federal government an F for not making it a "national economic development priority."
The federal and Ontario government will spend more than $785,000 to allow First Nations in the so called Ring of Fire region to do a study on establishing a year-round transportation corridor in the region.
The federal government may struggle to keep up with a growing need for mental-health and other social services in First Nations communities located within a massive mineral find in northern Ontario, according to a newly released document.
Ontario's governing Liberals are killing development of the Ring of Fire -- believed to have the economic potential of Alberta's oilsands -- by failing to stop a major player from pulling out of the project, critics charged Thursday.