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KWG Resources Inc C.CACR

Alternate Symbol(s):  KWGBF | C.CACR.A

KWG Resources Inc. is a Canada-based exploration stage company. It is focused on acquisition of interests in, and the exploration, evaluation and development of deposits of minerals including chromite, base metals and strategic minerals. It is the owner of 100% of the Black Horse chromite project. It also holds other area interests, including a 100% interest in the Hornby claims, a 15% vested interest in the McFaulds copper/zinc project and a vested 30% interest in the Big Daddy chromite project. It has also acquired intellectual property interests, including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. It also owns 100% of Canada Chrome Corporation, a business of KWG Resources Inc., (the Subsidiary), which staked mining claims between Aroland, Ontario (near Nakina) and the Ring of Fire. The Subsidiary has identified deposits of aggregate along the route and made an application for approximately 32 aggregate extraction permits.


CSE:CACR - Post by User

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Post by pickdawinneron Oct 22, 2013 8:27am
215 Views
Post# 21836217

I think they've even been said NO too

I think they've even been said NO too

Ring of Fire needs Ontario help: miner

U.S. firm says it will pull out without access to chromite deposit

Ring of Fire needs Ontario help: miner

A snowmobile rides down the main street on the Fort Hope First Nation, Ont., last winter. U.S.-based miner Cliffs Natural Resources Inc. says it will consider pulling out of the Ring of Fire project if the province doesn't allow the company to build an all-weather road to access the chromite deposit.

Photograph by: Ryan Remiorz, The Canadian Press , The Canadian Press

A major player in developing the much-touted Ring of Fire project in northern Ontario says it will consider pulling out if the Ontario government doesn't ensure the company has access to the chromite deposit.

Cliffs Natural Resources Inc., a U.S.-based company that is prepared to spend billions of dollars on the massive mining project, has been unable to build an all-weather road to the site because it would cross land staked by a rival company.

If it can't build the road, Cliffs will have to consider shutting down operations, said Bill Boor, vice-president of ferroalloys.

"I guess it would be fair to say that we have to think about it," he told The Canadian Press. "We haven't made any decision along those lines, and we hope we don't get to that point."

But the project is in a "tenuous state," he said. If the company doesn't have a transportation route, it doesn't have a project, he said.

"We've got a fairly high spend rate, so at some point in time, it's only rational or, it's kind of our responsibility, to decide whether it's wise to keep pushing," Boor said.

Junior mining company KWG has staked the most viable corridor through very difficult wetland terrain for a potential railroad.

Cliffs, which suspended its

environmental assessment activities in June, asked Ontario's Mining and Lands Commission for an easement over KWG's mining claims.

But the application was dismissed last month, essentially blocking Cliffs from using the land they need to build the road.

Cliffs is appealing the decision and trying to find a solution, but there aren't many options, Boor said.

The legal process could take years, he said, and the company isn't prepared to take on the cost of buying KWG.

Besides, there are other small-claim holders along the corridor, and the commission's decision "basically gives a road map" to anyone who has a mining claim related to any project to block development, he said.

The only viable solution is for the government to step in, Boor said. It could expropriate the surface rights or withhold a portion of the surface Crown land for the public interest.

Northern Development and Mines Minister Michael Gravelle wouldn't say whether he will intervene or even consider it. But developing the Ring of Fire "remains a top priority" for the governing Liberals, he said Monday.

For years, the Liberals have been touting the Ring of Fire, about 500 kilometres northeast of Thunder Bay, as a major mining project that will help boost the cash-strapped province's economic fortunes, create jobs in the hard-hit North and bring in revenue to struggling First Nations.

It's believed to contain the largest deposit of chromite - a key ingredient in stainless steel - to be discovered in North America. The federal government has compared it to the Alberta oilsands in terms of its potential to create wealth and development.

But Ontario's Liberals "bungled" the Ring of Fire from Day 1, and they need to find a "productive" solution that will allow the project to get underway, said Progressive Conservative Vic Fedeli.

The Liberals don't have a clue what they're doing and it's jeopardizing development of the Ring of Fire, said New Democrat Mike Mantha, who represents the riding of Algoma-Manitoulin.

"Whether this project is done through rail, whether it's done through a road, it's got to move forward, and this province has got to take a leadership role in doing that," he said.

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