Thursday, August 23, 2012
Ring of Fire ... keep Northern Ontario rocking.
I was amazed today, while covering a news story, to hear a lady talk about the impact of The Ring of Fire. Now for those not in the mining game, Ring of Fire is more than just a Johnny Cash song. The Ring of Fire is the name given to huge series of mining deposits in far Northern Ontario ... way up there by James Bay. It's actually close to the De Beers diamond mine. The woman who is something of a business expert suggested that this mining zone will have the same impact on Ontario as offshore oil on Canada's east coast, or the tar sands in Alberta. That is reassuring. Ontario, thanks to the whiz-boys at Queens Park has become a "have not" province. Twice in the past two years, our credit rating has been scaled back. So keep buying your cars, cell phones and other consumer goods because it keeps Northern Ontario rocking. By the way, the ring of fire will be mining chromite, a rare mineral that you need for making stainless steel. But you will also find nickel, copper, platinum and palladium. What makes it worthwhile is that this will be one of the largest deposits in the world ... coming from a country that has a stable government. As long as the world doesn't find out that Dalton McGuinty and the Libs are in office. Despite them, mining could eventually make this province wealthy again.