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Province unveils corporate body to plot Ring of Fire

The not-for-profit corporation has an interim board of four Ontario public servants. The board will put the necessary structures in place in order to allow for partners to determine their participation in the corporation.
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A New York hedge fund proclaims it’s won a bitter proxy fight with Cliffs Natural Resources to achieve majority control of the Ohio iron ore and coal miner’s board of directors.
The not-for-profit corporation has an interim board of four Ontario public servants. The board will put the necessary structures in place in order to allow for partners to determine their participation in the corporation.

This includes working with key partners including First Nations, industry, communities, and the federal government, to formalize partnerships through the corporation, and overseeing an economic and technical baseline feasibility report on transportation infrastructure.

As participation in the corporation evolves, the board of directors will be broadened to include membership from First Nations and industry partners.

In its mature state, the corporation will be in a position to advise on crucial infrastructure investment decisions, the province said in a news release, including how to best use Ontario's $1 billion dollar commitment to Ring of Fire infrastructure.
More information to come.


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