The Ontario government is making a major move towards developing the massive Ring of Fire region. Last week the government announced that it was hiring the consulting firm Deloitte to help work on a development corporation that would build infrastructure in the Ring of Fire.
The Ring of Fire deposit, located in northwestern Ontario, has been nicknamed “Ontario’s oilsands.” It is estimated to be worth $60 billion in chromite, nickel and gold. Just some of the companies with claims in the region are Cliffs, KWG Resources and Noront Resources among many others. Last year the government of Ontario announced that a development corporation would be created for the area, which brought together mining companies, government bodies and first nations communities. However, negotiations between these parties have stalled. Furthermore, the provincial and federal governments can’t agree on who should be responsible for the tab and they haven’t yet reached an agreement with the Matawa First Nations Council.
“Deloitte LLP will act as a neutral, third-party resource for key partners, including first nations, the provincial and federal governments and industry,” the Ministry of Northern Development and Mines published in a news release. “Work is also underway to help partners build a common understanding of infrastructure needs in the region. A third-party research report will examine existing infrastructure proposals and establish a common technical basis to inform decisions to maximize the economic and social potential of the Ring of Fire region.”