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
- Airline loses contact with planeWorld
- 'Spiderman' arsonist gets jail timeKelowna
- Road project jumps by $1.1MKelowna
- Co-worker stabbed in Salmon ArmVernon / N. Okanagan - 5:00 am
|QHR Technologies Inc||1.18||+0.02|
|Anavex Life Sciences||0.42||-0.018|
|Copper Mountain Mining||2.20||-0.09|
|Sunrise Resources Ltd||0.035||+0.005|
|Mission Ready Services||0.295||0.00|
How will you pay for this today? Maybe it’s time to change the way you answer this common checkout question.With more payment options than ever, consumers can find easy ways to save money, simpl...
In the razzle dazzle of Hollywood it is hard to find anyone who stands out from the crowd. The fraternity of Actors, Producers, Directors and various other technical guru’s seem to live in a wo...
This past Sunday I drove from Kelowna to Powell River. For those of you who’ve never had to, particularly in winter, it means rising in the wee hours; managing a treacherous journey on the Coqui...