Industry News

Golden parachute for Cliffs boss Gary Halverson’s time as president and CEO of Cliffs Natural Resources was short but sweet; extremely sweet. By: Northern Ontario Business staffGary Halverson’s time as president and CEO of Cliffs Natural Resources was short but sweet; extremely sweet.The Sudbury native, who was recently ousted as Cliffs boss, will receive $11 million in termination pay by the Ohio iron and coal miner.Halverson was appointed the company’s chief operating o...
New Gold enters credit facility arrangement By: Northern Ontario Business staffVancouver’s New Gold has entered into a four-year, $300 million revolving credit facility with a syndicate of banks.The previous $150-million revolving credit facility was set to expire in December.The company has a portfolio of four mines and three projects under development, including its Rainy R...
Province to spend half-billion on Northern highwaysThe Ontario government announced $527 million is being earmarked for highway construction in the North. By: Northern Ontario Business staffThe Ontario government announced $527 million is being earmarked for highway construction in the North.Some of the key construction projects include the ongoing four-laning of Highway 11-17 between Thunder Bay and Nipigon. A 20-kilometre stretch has been completed with a further 17 kilometres under...
Labour deal reached to reopen Kenora sawmillUnifor has reached a long-term contract with Kenora Forests Products to restart sawmill operations by the beginning of 2015. By: Northern Ontario Business staffUnifor has reached a long-term contract with Kenora Forests Products to restart sawmill operations by the beginning of 2015.The new deal will result in millions of dollars in capital investment to modernize the mill and to install an additional saw line for expanded lumber production, according to...
The Ring of Fire court follies continueKWG Resources reports it intends to appeal the decision of an Ontario Division Court regarding use of surface rights on its Ring of Fire mining claims. By: Northern Ontario Business staffIt’s an appeal of the appeal.KWG Resources reports it intends to appeal the decision of an Ontario Division Court regarding use of surface rights on its Ring of Fire mining claims.On July 30, the court set aside a decision reached by the Ontario Mining and Lands Commissioner from last September tha...
Mining vet joins Zenyatta boardKen Stowe has joined Zenyatta Ventures’ board of directors. Zenyatta is developing the Albany graphite deposit near Hearst. (FILE PHOTO) By: Northern Ontario Business staffZenyatta Ventures has added industry veteran Ken Stowe to its board of directors.The well-respected mining engineering has more than 35 years of experience under his belt.He was mostly recently president and CEO of Northgate Minerals from 2001 until his retirement in 2011. Stowe spent 21 years w...
Dynamic Earth expansion underwaySudbury council is contributing $250,000 to an expansion of Dynamic Earth. (FILE PHOTO) By: Northern Ontario Business staffGreater Sudbury city council is supporting new visitor exhibits at Dynamic Earth with a $250,000 grant for a planned $3-million expansion that will include a new gallery, theatre and outdoor science park.Construction began this summer with completion scheduled for the spring of 2015. Over $6 mi...
Chief warns gov’t, developers to respect treatiesOntario Regional Chief Stan Beardy warned government and resource developers in late July to respect treaty rights in Ontario. (FILE PHOTO). By: Northern Ontario Business staffOntario Regional Chief Stan Beardy issued “formal notice” to government and resource developers in late July that First Nations intend to assert their inherent and treaty rights on their traditional lands in Ontario.In a news release, Beardy delivered his Notice of Assertions on the steps of th...



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