Pleased to see a commitment for sustainable development of the #RingofFire and for resource revenue sharing in the @fordnation government's Fall Economic Statement. Support for the North, good for all Ontarians.

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https://www.fin.gov.on.ca/fallstatement/2018/chapter-1b.html

Ring of Fire

The Ring of Fire is a large, geologically rich potential mining development area in Ontario’s Far North. Located about 535 kilometres northeast of Thunder Bay, it holds significant deposits of minerals, including chromite, nickel, copper, vanadium, platinum group metals and gold, among others. Given the volume of the deposits, it is estimated that the Ring of Fire could support mining operations for more than a century. Recent estimates suggest that the value of the mineral resources in the area could be more than $60 billion,6 due in large part to known chromite and nickel deposits. The Ring of Fire represents a significant opportunity to open up the resources of Northern Ontario and create jobs in the region.

The government is committed to addressing the delays blocking the development of the Ring of Fire by working with willing partners to ensure sustainable development in the North.

Review of the Far North Act, 2010

The previous government enacted the Far North Act, 2010 to develop land use plans in the Far North. Since enactment, little progress has been made to promote collaboration with First Nation communities, which has hindered investment opportunities in Northern Ontario, and limited the possibilities for jobs and economic growth among First Nations. The Act also complicated economic development possibilities and opportunities, resulting in additional planning processes for some 225,000 square kilometres of land, or about 25 per cent of Ontario’s total land mass and 28 per cent of the province’s North.

The government’s goal is to encourage economic growth, diversification, job creation and self-reliance in communities in Northern Ontario. To ensure a collaborative approach to development, the Province will undertake a review of the Far North Act, 2010 to ensure land use planning aligns with local, First Nations’ and Provincial priorities.

Resource Revenue Sharing

The government will continue to explore ways to encourage development of natural resources across the North, by helping Northern towns and Indigenous communities share in the benefits of resource development from mining, forestry and aggregates.

Sugar Zone Mine

Ontario is one of the most attractive jurisdictions for mineral exploration in the world and consistently accounts for about 25 per cent of Canada’s total exploration and deposit appraisal spending. On October 24, 2018, Harte Gold’s Sugar Zone Gold Mine near White River officially opened. The mining project will create about 150 jobs and demonstrate that Ontario is open for business.

The government supported Harte Gold’s participation in a number of international marketing missions that ultimately led to secured financing. The Sugar Zone mine is expected to be in operation for over a decade, during which time it could produce more than 900,000 ounces of gold. It will also generate increased activity for businesses that support Northern Ontario’s mining supply and services sector. Once the Sugar Zone mine reaches full commercial production, Ontario will have 39 operating mines, including 18 gold mines.

Mining Working Group

The government will establish a special mining working group that will focus on opening Ontario for business by speeding up regulatory approvals and attracting major new investments.

Algoma

Algoma Steel is the mainstay of Sault Ste. Marie’s economy. Algoma is the second largest private-sector employer in Northern Ontario, supporting approximately 7,400 direct and indirect jobs. The government is putting workers, pensioners and families first by supporting the restructuring of Algoma’s business, allowing it to continue for future generations. The successful restructuring will protect thousands of jobs and the environment, and secure a long-term commitment to fund Algoma’s pension plans, benefiting approximately 2,100 current and 6,300 former or retired employees’ pensions