TORONTO – Business – The Ring of Fire represents a major opportunity according to Tony Clement, Minister for FedNor. The Conservatives recently put Clement in charge of the federal efforts for the Ring of Fire.
Clement highlighted the Conservative’s commitment to the Ring of Fire and urged the mining industry to reach out and engage local communities on the development’s economic potential at the Prospectors and Developers Association of Canada’s (PDAC) annual convention.
The Ring of Fire – Clement’s priority
“Our Government’s top priority is jobs, growth and long-term prosperity. The Ring of Fire is a generational opportunity to improve the economic prospects and quality of life for thousands,” said Minister Clement. “Much of Canada’s wealth is founded on mining and the Ring of Fire is a chance for the sector to leave a lasting legacy. That’s a story the mining industry needs to share.”
Clement shared with the audience of mining executives and miners that “The Ring of Fire, located approximately 500 km northeast of Thunder Bay, is potentially the largest mining development Northern Ontario has ever seen. The region has significant deposits of nickel and copper and represents North America’s single largest deposit of chromite, the main ingredient in stainless steel”.
With mineral content worth an estimated $30-$50-billion, the Ring of Fire has the potential to create 5,000 direct and indirect jobs in Northern Ontario alone.
One of the biggest players in the Ring of Fire is Cliffs Natural Resources. Cliffs has stated repeatedly that the project is in the feasibility stage.
“The Harper Government recognizes the importance of the Ring of Fire to Northern Ontario’s growth and long-term prosperity,” said Minister Clement. “As Minister for FedNor and as the federal Lead Minister on this project, I welcome the opportunity to work with all levels of government, as well as First Nations and industry stakeholders to prepare and implement the collaborative economic development approaches for the region.”
Minister Clement spoke to a gathering of national and international media representatives and mining industry officials during a reception hosted by PDAC. The event was part of the organization’s International Convention and trade show, the largest of its kind in Canada, which brings together over 30,000 participants from 125 countries.
“Our Government’s plan for Responsible Resource Development supports jobs and our economy while increasing environmental protection,” said Minister Clement. “The economic development potential of the Ring of Fire for Northern Ontario and for the country is truly unique, and we are committed to doing our share to make it happen.”