The painfully slow development of Ontario's Ring of Fire region has taken an important step forward.
The Ministry of Northern Development and Mines has established a development corporation.
With headquarters to be located in Thunder Bay, the ROF Infrastructure Development Corporation will work to bring First Nations and the public and private sectors together to create partnerships and facilitate investment decisions in strategic transportation infrastructure.
According to a news release from the ministry, the not-for-profit corporation has an interim board of four Ontario public servants. The board will put the necessary structures in place in order to allow for partners to determine their participation in the corporation. This includes working with key partners including First Nations, industry, communities, and the federal government, to formalize partnerships through the corporation, and overseeing an economic and technical baseline feasibility report on transportation infrastructure.
As participation in the corporation evolves, the Board of Directors will be broadened to include membership from First Nations and industry partners.
In its mature state, the corporation will be in a position to advise on crucial infrastructure investment decisions, including how to best utilize Ontario's $1 billion dollar commitment to Ring of Fire infrastructure.
Minister of Northern Development and Mines,Michael Gravelle says “The development corporation is a vital step towards building the much-needed infrastructure that is critical to realizing the full potential of the Ring of Fire. It is a key building block to achieving our mutual goals of unlocking regional economic growth and benefiting from value-added opportunities like mineral processing and job creation."
But Nipissing MPP Vic Fedeli is unimpressed.
“Today marks the sixth time in nine months the government has announced the Ring of Fire Development Corporation.
"Yet despite that considerable length of time, key industry, First Nations and Ontario Northland still haven’t been invited to the table. It raises questions about how serious the government really is about proceeding in the Ring of Fire, and it resembles the same 'shoot first, ask for input later' approach they used in concocting their ill-advised ONTC fire sale scheme. The government must invite the transportation experts at Ontario Northland to the Ring of Fire table, and I’ll continue to work to see that happen.”
The Ring of Fire, located approximately 540 kilometres northeast of Thunder Bay, has mineral potential believed to be worth $60 billion dollars and includes the largest deposit of chromite ever discovered in North America. Chromite is a key ingredient in stainless steel. The area also holds the potential for significant production of nickel, copper and platinum.
