The Globe and Mail reports in its Friday, Dec. 6, edition that there is much at stake for Ontario
as it tries to map out
the potentially lucrative future
for its mining sector. The Globe's David Parkinson writes that Ontario Premier
Kathleen Wynne wants Ottawa to help
the province finance the estimated
$2-billion cost to build the infrastructure
needed for the
Ring of Fire mineral deposit where Noront Resources is the main player. Cliffs Natural Resources recently suspended its operations
there, amid uncertainty
about the infrastructure plans,
and delays in environmental and
first nations approvals. That
gave a new sense of urgency to
the province's efforts to get
things moving, and to recruit
Ottawa to help.
The province continues to
review its Mining Tax
Act. Ontario has the lowest taxes
on resource extraction of any
province, and it wants to
generate more revenue. It has
dragged its feet on introducing a
new structure, partly in light of
the sharp downturn in commodity
prices. But as the Ring of Fire
push grows, the province is
going to need to deliver clarity
on just how big a pound of flesh
it intends to extract from companies
that want to exploit the area.
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