Tuesday, July 22nd14.9°C
21452
22455

Ottawa and Ontario must fund plan to build transportation to Ring of Fire: study

TORONTO - The Ontario Chamber of Commerce is urging the federal and provincial governments to fund a plan to build transportation infrastructure to the Ring of Fire mining development.

It says the lack of a transportation route is a major barrier to developing of the northern mineral-rich region, which it says could generate up to $25 billion in economic activity over the next three decades.

It says the Ring of Fire could generate $9.4 billion over the next decade alone and support 5,500 jobs a year.

The chamber also says it would provide the federal, Ontario and municipal governments with $2 billion in revenue over that period.

It says the federal Conservatives have an obligation to be actively involved in the development as it has for other projects, such as the Alberta oilsands and Churchill Falls in Labrador.

But the Ontario Liberals say Ottawa isn't doing enough and hasn't committed money to help build the necessary infrastructure.

The Canadian Press


Read more Business News

21623


Recent Trending




Today's Market
S&P TSX15249.99-16.58
S&P CDNX1006.48-5.76
DJIA17051.73-48.45
Nasdaq4424.704-7.442
S&P 5001973.63-4.59
CDN Dollar0.9314+0.0002
Gold1313.40+4.2001
Oil104.90+0.31
Lumber327.80+1.50
Natural Gas3.842-0.007

 
Okanagan Companies
Pacific Safety0.20+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.150.00
Cantex0.055-0.005
Anavex Life Sciences0.348+0.008
Metalex Ventures0.065-0.005
Russel Metals34.99-0.16
Copper Mountain Mining2.69-0.01
Colorado Resources0.20-0.005
ReliaBrand Inc0.10+0.019
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.18-0.03

 



22447

FEATURED Property
2015913#16 610 Katherine Road
2 bedrooms 2 baths
$129,300
more details
image2image2image2
Click here to feature your property
Please wait... loading


Labour shortage in BC

The mainstream media are finally waking up to something unusual in British Columbia – a labour shortage. If the experience of Alberta is a guide to our own future, the highly skilled labour will...


Learn to delegate effectively

Photo: ContributedI have the pleasure of witnessing people delegate tasks quite often. Sometimes with tremendous success and sometimes with disastrous consequences. I have chaired a lot of committees...


Euro debt woes re-emerge

Big Picture Euro debt woes re-emerge Europe’s debt woes jumped back into the headlines this week trumping other economic, geopolitical and corporate developments. Word that one of Portugal&rsquo...

_








Member of BC Press Council


22707