Deloitte to help establish Ring of Fire development corporation in Canada

16 February 2014 (Last Updated February 16th, 2014 18:30)

The Ontario provincial Government has appointed Deloitte to help establish a development corporation for the $60bn Ring of Fire chromite deposits in the north-western region of the province.

Michael Gravelle

The Ontario provincial Government has appointed Deloitte to help establish a development corporation for the $60bn Ring of Fire chromite deposits in the north-western region of the province.

Deloitte will work with Ring of Fire partners, which include First Nations, the provincial and federal governments and industry, to set clear paths and timelines for decision-making.

The company will also help create guiding principles for the corporation and seek consensus on the next steps.

The Ontario Government said that work is also underway to help partners build a common understanding of infrastructure needs in the region.

A third-party research report will examine existing infrastructure proposals and establish a common technical basis to inform decisions to maximise the economic and social potential of the Ring of Fire region.

The Ring of Fire, which includes the largest deposit of chromite ever discovered in North America, will help transform Ontario, creating jobs and improving its economic prosperity.

"We remain committed to making a significant investment to support infrastructure needs in the region."

Ontario minister of northern development and mines Michael Gravelle said that collaborating with the government's partners is important to developing the Ring of Fire.

"That is why our government is committed to driving progress through the development corporation and that is why I am so pleased that we are getting significantly closer to a historic agreement on a regional framework with the Matawa First Nations," Gravelle said.

"We remain committed to making a significant investment to support infrastructure needs in the region, but we need partners to come together so that decisions can be made."

The government said the Ring of Fire development is subject to all necessary environmental assessment and regulatory processes as well as approvals and the Crown fulfilling its duty to consult.


Image: Ontario minister of northern development and mines Michael Gravelle. Photo: courtesy of Queen's Printer for Ontario.

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