Ring of Fire in jeopardy over miner’s money problems
Wednesday, April 17, 2013 2:43
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TORONTO — The future of Canada’s Ring of Fire, a remote cluster of rich mineral deposits in northwestern Ontario, is looking increasingly dim as the finances of its biggest private investor, Cliffs Natural Resources Inc, have taken a turn for the worse.
Crouched in swampy lowlands and named for a Johnny Cash song, the 4,000 sq km zone has no rail lines, highways or reliable power. Political leaders say the Ring of Fire could support a century of mining, but the cash-strapped government has yet to commit infrastructure funds.
