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.
Read more Business News
- Naramata wildfirePenticton / S. Okanagan - 4:20 pm
- Busy day for search and rescueKamloops - 3:37 pm
- Supertankers: 'pure madness'BC - 1:45 pm
- Harrowing tale from missing pickerPenticton / S. Okanagan - 1:00 pm
|QHR Technologies Inc||1.20||0.00|
|Anavex Life Sciences||0.26||+0.03|
|Copper Mountain Mining||2.77||-0.11|
|Sunrise Resources Ltd||0.025||-0.005|
|Mission Ready Services||0.20||0.00|
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...
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 wealth market faces increasing competition and declining product differentiation. The wealth industry is responding to these emerging trends with “new” and “unique” investm...