Kerr Mines raises cash for operations
By: Northern Ontario Business staffKerr Mines, which recently reached a merger agreement with
San Gold, has announced it’s raising $15 million for general
operations.The company announced it would issue units of the company to
raise profits of $5 million in a non-brokered private placement. It will
subsequently complete a $10-mi...
Ring of Fire news greeted with shrugs
By: Jonathan MigneaultThe province announced Thursday its plans to establish an
interim board for the Ring of Fire development corporation, but critics say the
announcement has been too little too late. “I'm really pleased that we're in a position today to take
this very significant step forward to drive the Ring of ...
Sudbury company fined after fatal accident
By: Northern Ontario Business staffHigh Strength Plates & Profiles Inc., a company that processes high-strength plate and
sheet steel, has been fined $110,000 in the death of a worker at its operation
centre in Lively, located just outside of Sudbury.On May 21, 2013,
a worker who had been employed at the centre for a short period...
Province unveils corporate body to plot Ring of Fire
By: Northern Ontario Business staffThe province
announced today it met its campaign promise of establishing a development
corporation for the Ring of Fire within 60 days of re-election.With headquarters
to be located in Thunder Bay, the Ring of Fire Infrastructure Development
Corporation will work to bring First Nations and the ...
Gravelle mum on Ring of Fire development corporation
By: Jonathan MigneaultNorthern Development and Mines Minister Michael Gravelle said the province is not yet ready to announce a development corporation to lead infrastructure decisions around the Ring of Fire, despite a nearing self-imposed deadline.Gravelle was not able to share new information regarding the long-await...
Feds don't commit to $1 billion for Ring of Fire
By: Jonathan MigneaultThe federal government is not ready to make a $1-billion commitment to Ring of Fire infrastructure, said Greg Rickford, Canada's minister of natural resources and FedNor.He made the statement in French, responding to a question from French media in Sudbury.Rickford said the feds have already made i...
Cast Resources files for bankruptcy
By: Jonathan MigneaultCast Resources Equipment Limited, a Sudbury-based company that manufactures used equipment, including scoop trams, underground haul trucks, utility vehicles and drills, filed for bankruptcy on July 4.According to the notice of bankruptcy filed that day, the company, owned by Robert Lipic, owed $8.9...
Is the Ring of Fire dev corp a go?
By: Northern Ontario Business staffNorthern Development and Mines Minister Michael Gravelle is scheduled to deliver the keynote address at the 2014 Energy and Mines Ministers’ Conference in Sudbury, beginning Aug. 25.The three-day conference, hosted by Collège Boréal, is a gathering of leading federal, provincial and territorial le...