Ring of Fire Monitor

This site is the 'go to' place for information on the Ring of Fire. As contributing authors are added, we will provide you with some background information on the authors.

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Monday, January 17, 2011

Watch for a steady stream of news around the ring

January 18, 2011
Just as I predicted, we will see a monster flow of 'actionable news' from the ROF. See KWG news under corporate tab at top.

January 17, 2011
I wanted to take this opportunity to review the details of a phone call I place today to one of the ROF IR departments. I took some notes and have checked some of the facts out to verify the tone of the remarks I received before I would post them.

The discussion reminded me of an Ali fight, float like a butterfly, sting like a bee. We’d drift off on a tangent and we kept coming back to Cliffs and the Chinese.

Let me lay out some published facts.

CLEVELAND, Dec. 1, 2010 /CNW/ – Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) today announced Dave Anthony will join the organization as vice president, senior project director, of Cliffs' Canadian chromite operations, effective January 2011. In this position, Mr. Anthony will lead the technical development of Cliffs' chromite deposits in Northern Ontario, Canada, overseeing project scope, execution plans, schedules and budgets to successfully design, procure, construct and begin production. He will report to William Boor, senior vice president, president - Ferroalloys. 
Earlier this year, Cliffs purchased two large chromite deposits and the controlling interest in a third deposit in the Ring of Fire area of Northern Ontario. Cliffs subsequently announced its intent to develop the mining operation in the Ring of Fire and a ferrochrome processing operation at a site to be determined in Ontario. Prefeasibility studies are underway, with projected start-up in 2015.Mr. Anthony has more than 30 years of engineering and environmental experience in the mining industry. Most recently, he worked with Barrick Gold Corp. as chief operating officer, responsible for African Barrick Gold (ABG) Mines & Capital Projects. He also has held general management positions with Barrick's gold and copper operations in Tanzania, directing the design, commissioning and operating of greenfield projects. Mr. Anthony also completed designs for mining companies across the globe while a senior metallurgist for SNC-Lavalin Engineers & Constructors LTD, a leading Toronto-based engineering and construction group. In addition, Mr. Anthony held engineering and environmental roles with major Canadian-based mining operators for more than 20 years.My contact stressed the change in the development life cycle. The move to prefeasibility is noteworthy in his opinion. It is also important to note that CLF will not be able to ‘outspend’ the minority partners on anything not related to the prefeasibility. I noted that if there is a 100 year supply in the ROF already, why spend any more trying to find another 50 year supply.

We then talked about the approval process and why the First Nations community is once again cranking up the rhetoric. They will be included in the planning process and they will get jobs and an equity position somewhere in the development of the project(s).

The other key point of any ROF discussion is of course political. The ‘Come to Jesus’ meeting held between the Province and the big three (CLF, NOT & KWG) also included a whole slew of bureaucrats. The bureaucrats were given their marching orders.... make it happen.

More later.

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