2014-05-26 at 16:45
KWG reveals homemade development plan moment before leader’s debate
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THUNDER BAY – One of the companies at the centre of the Ring of Fire has its own plan on how to spearhead development.
Prior to Monday’s Northern Leaders Debate, KWG Resources president Frank Smeenk held a news conference at the Valhalla Inn to reveal a plan to modify the Ontario Northland Transportation Commission into the promised development corporation for the mining project.
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He said he has heard the federal government is favourable towards the idea of turning the transportation commission into a non-share capital corporation.
“I’m told they like the idea,” Smeenk said. “I think our Canadian government is probably taking a stand back to see how things play out…I would expect Ottawa would love using the capital markets to finance this kind of a thing rather than public debt.”
Smeenk proposes revitalizing the Ontario Northland Railroad as the provider of rail service to transport the yield of the Ring of Fire.
KWG had staked claims to a potential transportation route in advance of the implementation of the Far North Act. Smeenk said he also supported the proposal by Noront Resources to construct an east-west roadway.
The company drafted a document that could potentially be introduced as a legislative bill and said they will keep track of candidates who support the proposal.
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