Ring of Fire 'once-in-a-lifetime opportunity'

Minister for FedNor Tony Clement reaffirmed the federal government's commitment to mining in the Ring of Fire region during an Ontario Chamber of Commerce meeting March 11.

Clement recently announced he's taken over federal responsibility for the project.

“The Ring of Fire represents a once-in-a-lifetime opportunity to create jobs, and generate growth and long-term prosperity for Northern Ontario and the nation,” Clement said, in a press release.

“As Minister for FedNor, and as the federal lead minister on this initiative, 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.”

The Ring of Fire, located approximately 500 km northeast of Thunder Bay, is potentially the largest mining development ever seen in Northern Ontario, the press release said.

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 could create up to 5,000 direct and indirect jobs in Northern Ontario alone.

“Our government's plan for Responsible Resource Development supports jobs and our economy while increasing environmental protection,” Clement said. “This development has the potential to materially improve the economic prospects and quality of life for thousands.”

Clement also took the opportunity to share the federal government's commitment to small business development and growth, red tape reduction, and strong fiscal management.

"As outlined by the prime minister, our government remains focused on four priorities that Canadians care most about, including their personal financial security," Clement said.