Ontario Supporting Development in the Ring of Fire
Ontario is taking steps towards the development of the Ring of Fire in a smart, sustainable and collaborative way.
Development in the Ring of Fire will create extraordinary business and growth opportunities for local mining and supporting industries and generate economic impacts across the entire country.
The Ring of Fire has generated tremendous interest from the private sector with more than two dozen companies and individuals holding over 11,000 active mining claim units.
Ontario is moving ahead with establishing a development corporation that will help accelerate infrastructure development. The development corporation, announced in November 2013, will be responsible for constructing, financing, operating and maintaining infrastructure supporting access to strategic resources in the Ring of Fire.
The firm Deloitte is working with private and public partners on creating guiding principles for the development corporation and will seek consensus on the corporation's next steps. Key stakeholders include mining companies, First Nations and the federal government.
The approach and priorities with respect to this investment will be established in partnership with First Nations, governments and industry partners through the development corporation.
On March 26, 2014, the province and the Chiefs of the nine Matawa member First Nations signed a regional framework agreement that enables Ontario and impacted First Nations to work together to advance Ring of Fire opportunities.
The Regional Framework consists of principles, objectives, and general provisions that will serve to guide future discussions around environmental assessment processes, social and economic supports, resource revenue sharing, and regional infrastructure planning.
Signing the Regional Framework Agreement means that Ontario and these First Nations communities are taking an important step in moving forward and continuing to work together to realize the Ring of Fire's potential.
Ontario's Mining Sector
- Ontario remains Canada's top jurisdiction for mineral exploration; industry expenditure was more than $600 million in 2013.
- The value of mineral production in 2003 was $5.7 billion; 2013 saw the value reach $9.8 billion.
- Since 2003, 24 mines have opened in Ontario.
- Ontario's northern region is expected to experience significant growth in mineral exploration and mining development over the coming decades, a positive impact on the broader provincial economy.
- The mining industry employs 26,000 in Ontario.. An additional 50,000 are employed through associated manufacturing and processing jobs.
Development in the Ring of Fire is subject to all necessary environmental assessment and regulatory processes, and fulfillment of the Crown's duty to consult.