Tuesday, August 19th18.9°C
21790
21626

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

22942


Recent Trending




Today's Market
S&P TSX15477.17+138.70
S&P CDNX997.566.94
DJIA16919.5980.85
Nasdaq4527.514+19.202
S&P 5001981.60+9.86
CDN Dollar0.9131-0.0011
Gold1295.40+0.30
Oil95.12+0.64
Lumber354.50+1.90
Natural Gas3.853-0.024

 
Okanagan Companies
Pacific Safety0.185-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.200.00
Cantex0.07+0.005
Anavex Life Sciences0.26+0.03
Metalex Ventures0.0850.00
Russel Metals37.22-0.15
Copper Mountain Mining2.77-0.11
Colorado Resources0.17-0.01
ReliaBrand Inc0.077-0.003
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.200.00

 



22942

FEATURED Property
19651662006 Hidden Ridge Place
5 bedrooms 4 baths
$584,999
more details
image2image2image2
Click here to feature your property
Please wait... loading


Going home to a bully!

Finally, after three months in New Brunswick, I am back home in the sunny Okanagan. It is a delight to be home and the lake, vistas, people and climate never disappoint. Like many people however, I...


Managing a business in 40 hours a week

My screen printing business, like many others, started as a one-man operation. It was located in a small building, not much better than a shack, with a telephone, a big table where I ate lunch and (oc...


The emperor's new clothes

The wealth market faces increasing competition and declining product differentiation. The wealth industry is responding to these emerging trends with “new” and “unique” investm...

_








Member of BC Press Council


22814