Porter looks to sell Toronto terminal
By: Northern Ontario Business staffPorter Aviation
Holdings Inc. (PAHI), the parent company of Porter Airlines, is looking to sell
its passenger terminal at Billy Bishop airport in Toronto.In a news release,
the company said it would look to lease back the terminal and there would be no
change to its airline operations. It said ...
Wallbridge secures bridge loan
By: Northern Ontario Business staffWallbridge Mining Company Ltd. has secured additional funding to help start up its Broken Hammer
nickel-copper-PGM mine near Sudbury.Auramet is
providing Wallbridge with US$1.5 million in the form of a bridge loan, will
bridge the period until sufficient revenue is received to achieve payback of...
Muskoka company gets expansion funds
By: Northern Ontario Business staffA Gravenhurst company
specializing in natural granite products for commercial and residential use has
received $600,000 from FedNor.The money will be
used to upgrade and modify Muskoka Rock Company’s manufacturing facility, as
well as install state-of-the-art equipment to create an automated pr...
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...