Noront Resources Ltd. (TSX-V:NOT) is pleased the Ontario government has proposed $1.0 billion in spending for infrastructure in the Ring of Fire.
“This commitment can provide the necessary funding for construction of a shared road and power corridor that will benefit remote First Nations communities and our Eagle’s Nest Mine, which will be the first mine developed in the Ring of Fire,” said Noront President & CEO Alan Coutts. “This infrastructure funding announcement is a vital milestone that will improve the quality of life in remote communities, while enabling development and prosperity in Northern Ontario.
“Mining and the associated job creation can’t happen without infrastructure, so we are pleased to see the province make a clear public commitment to funding a transportation corridor in the Ring of Fire. All-season road access, stable affordable power and the opportunity to participate in the economic development of the region will benefit local communities, resource companies and government.”
Noront recently completed a coordinated Federal/Provincial Environmental Impact Statement and Environmental Assessment Report (“EIS/EA”) for its Eagle’s Nest Project and submitted a draft copy for comments to the Canadian Environmental Assessment Agency (CEAA) and the Ontario Ministry of the Environment (MOE). We recognize that advancing the project will require First Nations to be integrally involved in the development. We’ve had many conversations with local First Nations communities as part of our EIS/EA process, and plan extensive additional consultation this spring and summer.
Noront Resources Ltd. is focused on development of the high-grade Eagle’s Nest nickel, copper, platinum and palladium deposit and the high-grade Blackbird chromite deposit, both of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire.
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