There's a big question mark hanging over the the Ring of Mining Development following a surprising decision by Cliffs Natural Resources. Cliffs has announced it will suspend indefinitely its Chromite Project in Northern Ontario by the end of the fourth quarter of this year. The company has decided not to sink any more capital into the Ring of Fire due to the uncertainty of the timeline and necessary infrastructure to bring the project on-line. Minister of Northern Development and Mines, Michael Gravelle, says the government is still committed to the project and the development is about more than just one company. The suspension of operations affects 14 employees here in Thunder Bay and 17 more workers in the field.
Thursday, November 21, 2013
A Major Player Is Out
There's a big question mark hanging over the the Ring of Mining Development following a surprising decision by Cliffs Natural Resources. Cliffs has announced it will suspend indefinitely its Chromite Project in Northern Ontario by the end of the fourth quarter of this year. The company has decided not to sink any more capital into the Ring of Fire due to the uncertainty of the timeline and necessary infrastructure to bring the project on-line. Minister of Northern Development and Mines, Michael Gravelle, says the government is still committed to the project and the development is about more than just one company. The suspension of operations affects 14 employees here in Thunder Bay and 17 more workers in the field.
