Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
In what was clearly a strategic move, the Ontario Ministry of Northern Development and Mines released a statement on Sunday saying that it has withdrawn all lands near the Kitchenuhmaykoosib Inninuwug (KI) community from prospecting and mineral staking.
According to NetNewsLedger, KI Chief Donny Morris had been seeking to get the attention of the Ontario Government over concerns of mining activity on its band’s lands over the past weeks, with no results.
The news outlet also reports that leaders from KI will be in Toronto this week protesting at the world’s leading mining exploration Convention, PDAC, to insist that mining company God’s Lake Resources Inc. (GLR) stop prospecting for gold in the KI Homeland.
This is not the first time that the Ontario Government faces demands from the KI First Nation community. A few years ago, six of their members were arrested when they opposed Canadian miner Platinex Ltd. (TSX-V:PTX) that wanted to explore on their lands. In Dec 2009, Platinex received $5-million Cdn from the Ontario government to end the dispute and walk away from its project. The events moved Ontario to draw up a new Mining act and caused the province’s industry’s reputation some damage.
Now KI are targeting God’s Lake, a small company listed on the Canadian National Stock Exchange that they say is working on sacred burial ground.
The government’s statement added that it tried to facilitate communications between the two groups, and that the move does not affect God’s Lake’s existing claims. The withdrawn area covers 23,181 square kilometres.
The Minister of Northern Development and Mines, Rick Bartolucci, is expected to make an announcement about mineral exploration in the province in a few hours.
4 Comments
M4salman
I am on my way to the PDAC right now! I am on the Train as I am typing this at 7:18am. I am very keen on hearing mor about this, and I am hoping to get some exporsure to this issue today by talking to some (hopefully) knowledgable people! Thanks for the article!
Tagishventuregroup
Enjoy PDAC.
If you really follow junior stocks under the radar, follow http://www.tagish.ca
3051001
The Mineral rights belong to the people of Canada – and this should include Nation Lands
The government needs to stop kiss their butts
Lamb
The Ontario Government is not supportive of one of it’s KEY industries. First Nations can certainly be worked into the equation on a royalty basis, BUT, they should not be able to stop a Mining Project. EVERY TIME THEY WANT TO STOP EXPLORATION, IT’S “A TRADITIONAL BURIAL GROUND – BULL – They really don’t care about that.
WE have seen this happen to other sectors like the Lake Huron Fisheries where all licences with non-natives were not renewed and then were given to First Nations. People that had a 100 year history as a family-run industry, were suddenly out of a job, left with useless fishing boats and no way to use them to make money, except the occasional tourist boat ride in the summer.
BE VERY CAREFUL ABOUT HOW THE ONTARIO GOVERNMENT treats this problem – mining in Ontario may become an industry of the past – but first nations will have their sacred burial grounds. WE MUST SCREAM AS LOUD AS THOSE FIRST NATIONS.