Noront Hits a Stumbling Block in Ontario’s Ring of Fire

Noront Hits a Stumbling Block in Ontario’s Ring of Fire

Last month, Noront Resources was riding high after announcing plans to snap up Cliffs Natural Resources' chromite assets in Ontario's Ring of Fire. In the last month, however, the situation has changed significantly, and now it's uncertain whether Noront's ambitious consolidation plans will indeed come to pass.

Noront Resources: Locking Down the Ring of Fire

Noront announced Monday that it's entered into an agreement to acquire, among other things, Cliffs subsidiaries Cliffs Chromite Ontario and Cliffs Chromite Far North.

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Company News

Glencore-Merafe Chrome Venture Ups Production in Q1

Mining Weekly reported that output from Merafe Resources Ltd.'s (JSE:MRF) chrome venture with Glencore plc (LSE:GLEN) increased by 15 percent during 2015's first quarter.

Merafe Reports Higher Q4 Attributable Ferrochrome Output

Mining Weekly reported that attributable ferrochrome production from Merafe Resources Ltd. (OTCMKTS:MRAFY) rose by 3 percent year-on-year during 2014's fourth quarter. Output totaled 92,000 tonnes.

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Market News

Zimbabwe Axes Four-year Ban on Chrome Exports

News24 Wire reported that Zimbabwe has lifted a four-year ban on chrome exports. Furthermore, the country has licensed 12 private companies and a state-owned firm to ship excess ore for smelting outside the country and has lowered electricity tariffs for companies mining the metal.

European Ferrochrome Benchmark Lowered for Q1 2015

Mining Weekly reported that according to Merafe Resources Ltd. (JSE:MRF), the European ferrochrome benchmark price has been settled 6 percent lower for the first quarter of 2015.

Greg Rickford Not a Fan of Ontario’s Ring of Fire Plan

CBC News reported that Greg Rickford, Canada's federal natural resources minister, believes Ontario's plan for the Ring of Fire has "serious structural problems" and thus he's cautious about partnering with the province to help develop infrastructure in the area.

Ring of Fire Geology: An Overview

Geology for Investors published an overview of Ontario's Ring of Fire. It looks at the region's geology and outlines issues with infrastructure, also touching on which companies are currently working there.

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