Cliffs Mine Shutdown Hurts Ring of Fire Plans: Corporate Canada
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Cliffs Natural Resources Inc. is postponing a $3.3 billion project in Ontario, threatening development of the mineral-rich Ring of Fire area once described as Canada’s most-promising mining region.
Cliffs’ plan to mine chromite, an ingredient for making stainless steel, was among the most advanced in the Ring of Fire, the horseshoe-shaped deposit about 1,000 kilometers (622 miles) northwest of Toronto and named by a mining executive after the Johnny Cash song. Other companies working in the area include Noront Resources Ltd. and KWG Resources Inc., both headquartered in Toronto.