There wasn’t a billion-dollar Ring of Fire payday for Ontario in the April 21 federal budget, but Ottawa is willing to fund some of the technological challenges, exploration know-how and training requirements to support the idled Far North mineral play.
Ottawa is setting aside $23 million over five years to advance new technology for separating and processing rare earth metals and for “green processing technologies” to limit the environmental impact of mining chromite in the Ring of Fire.
In its budget documents, the government said the estimated 105 million tons of chromite in Ontario’s Far North could make Canada a “significant global producer, processor and supplier” of the metal used in stainless steel and other alloy production.
No mention was made in federal Finance Minister Joe Oliver’s budget of fulfilling the Wynne’s wish to match the province’s $1-billion promise to deliver infrastructure to reach the stranded mineral deposits.
On the exploration side, Ottawa wants to spend $22 million over five years to renew its Targeted Geoscience Initiative, a partnership program with provinces and industry to identify areas of base metal potential. As well, the 15 per cent tax credit for flow-through shares on exploration is being extended for another year.
To address the forecast of an anticipated 400,000 young Aboriginals joining the workforce, $215 million is being earmarked for the Skills and Partnership Fund, which equips Aboriginal people with skills for jobs in high-demand sectors.
Canada’s rebounding forest sector will receive an infusion of $86 million over two years, starting next year to expand export opportunities in Asia and support innovation in new forest products, inventory technology and wood mid-rise construction.
