Sudbury has won the coveted Ring of Fire ferrochrome processor plant.
Officials with Cleveland-based Cliffs Natural Resources made the announcement Wednesday morning while declaring the company is ready to take it’s chromite project to the feasibility study level.
“Today’s decision is a major milestone in our overall plan and adds more clarity to the project,” said Bill Boor, Cliffs senior vice-president, in a release issued by the company.
“Now we are able to commit to a project definition, moving us closer to making the chromite project a reality. By following a very rigorous and disciplined pre-feasibility approach, we are confident that the viability of the project is enhanced, which is critical to creating stable jobs and bringing other social and economic benefits to the region."
The company must still get both federal and provincial environmental assessment approvals for the $2.8-billion project before a final decision can officially be made.
The company anticipates a majority of the investments it must make will take place in 2014 and 2015
This is a developing story. More to follow...
