KWG Applauds Announcement Of ONTC Developments
04 Apr 2014, Posted by in 2014Toronto, Canada, April 4, 2014 – KWG Resources Inc. (TSX-V: KWG) (“KWG”) is very encouraged that Minister of Northern Development and Mines Michael Gravelle earlier today announced his support for the development and renewal of the capacities of the Ontario Northland Transportation Commission.
“Around the globe, the recurring challenge of insuring the environmental and economic sustainability of bulk commodity extraction and processing – is transportation,” said KWG President Frank Smeenk. “One of the unique blessings of the location of the Ring of Fire discovery in Northern Ontario is the opportunity to exploit it with the multi-billion dollar legacy infrastructure assets of the Ontario Northland Railroad. This is very substantial capital that need not be spent or amortized in fixing very long term and large tonnage transportation costs. It is a huge competitive advantage.”
“The ONR has lost one freight customer after another in recent years, to the point where its survival became very questionable. The discovery of the Ring of Fire’s chromite deposits now promises to insure substantial bulk freight traffic for many generations. This can revive and expand the ONR. In fact, we have suggested that the Minister consider if the ONTC Act might be amended to become the Northland Development Corporation Act. This would be consistent with the ONTC’s original mandate and the Minister’s expressed desire to have new infrastructure requirements met by a focused development corporation.”
About KWG: KWG has a 30% interest in the Big Daddy chromite deposit and the right to earn 80% of the Black Horse chromite occurrence where resources are being defined. KWG also owns 100% of Canada Chrome Corporation which has staked claims and conducted a $15 million surveying and soil testing program for the engineering and construction of a railroad to the Ring of Fire from Exton, Ontario.
For further information, please contact:
Bruce Hodgman, Vice-President, KWG Resources Inc. at 416-642-3575 Ext103
[email protected]
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