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KWG Resources Inc (2)
Symbol KWG
Shares Issued 697,577,273
Close 2013-09-12 C$ 0.05
Market Cap C$ 34,878,864
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FP says Kamerman decides in favour of KWG Resources

2013-09-12 04:29 ET - In the News

The Financial Post reports in its Thursday edition that the proposed development of Ontario's "Ring of Fire" is facing greater uncertainty, as the province's Mining and Lands Commissioner has made a key ruling against the firm expected to build the region's first mine and much of its infrastructure. The Post's Peter Koven writes that Cliffs Natural Resources wants to build a road to the Ring of Fire, located in the James Bay Lowlands, that could be used to transport ore. This is controversial, because the proposed road would cross over mining claims owned by KWG Resources, which has staked the ground for a potential railroad. Commissioner Linda Kamerman rejected Cliffs' request for an "easement" that would allow it to build a road crossing over KWG's claims. In the decision, she said the request breaches KWG's rights under Ontario's Mining Act and that Cliffs did not demonstrate the road is in the public interest. Cliffs claims the road would provide a useful link to first nations communities, an idea that is also supported by Queen's Park. But Ms. Kamerman wrote that there was no evidence of a "public component" to Cliffs' application. The ruling throws a big question mark over Cliffs' development plans.

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