KWG Resources says it is working with Marten Falls First Nation to develop an equal partnership for mining chromite in the Ring of Fire.
In a news release on Tuesday, the Toronto-based mining company said the parties envisage large-volume underground mining operations for delivering chromite raw materials from the company's mineral claims by railroad for further processing.
KWG said the two partners are also looking to include the Aroland and Webequie First Nations, other more remote members of the Matawa Tribal Council, and other stakeholders in the Ring of Fire including Noront Resources and three other mining companies.
Tbnewswatch.com was unable to reach a spokesperson for Marten Falls for comment.
The announcement from KWG said the two parties will send a delegation to China next month "to establish interest in long-term offtake and financing arrangements" there.
They also plan to meet with China Railway First Survey and Design Institute Group to discuss details of a feasibility study the group prepared for KWG last year.
The proposed rail line would cross the traditional territories of Marten Falls, Webequie and Aroland First Nations.
KWG said the capital cost of creating the mining operation and railroad is an estimated $4 billion.
The company stated that the Ontario government's Ring of Fire Infrastructure Development Corporation has been asked to provide a $1 billion guarantee as consideration for project financing terms from lenders in China.
