KWG Resources’ ultimate dream of building a Ring of Fire railroad may have to be realized through a Chinese bank.
A spokesman for the Toronto junior miner is hyping that a “turning point” has been reached that will jumpstart the stalled development process of the untapped mineral belt in Ontario’s Far North.
KWG announced Dec. 29, 2015 that a Chinese railroad engineering firm, China Railway First Survey & Design Institute Group, is conducting a feasibility study to determine if it makes economic sense to run rails north to reach the rich chromite and nickel deposits of the James Bay region.
“The odds are extremely high,” said Bruce Hodgman, KWG’s communications director, in categorizing the likelihood of his company securing offshoring financing with a “bankable feasibility study” of KWG’s railroad concept.
“I think we’re making it happen. I think this is a huge turning point for the Ring of Fire.”
Besides looking for rail infrastructure money, when KWG president-CEO Frank Smeenk travels to China in mid-January 2016 to discuss the parameters of the study, he’ll be looking to secure chromite offtake agreements from the Chinese.
In return for the design and construction of a railroad, Hodgman said the Chinese could be paid in Ferrochrome (processed chromite used in stainless steel production), or possibly semi-finished products."
Read more & lets make sure Trudeau Harper Trump & Gates et al advice is now urgently sought by Frank Smeenk & taken very very seriously.
https://www.northernontariobusiness.com/Industry-News/mining/2015/12/Ring-of-Fire-junior-miner-heads-to-China-for-infrastructure-money.aspx