Noront Resources (NOT.V), a development stage mining company focused on the development of its Eagle's Nest Mine within the Ring of Fire (James Bay Lowlands of Northern Ontario), said it is encouraged with the federal government's commitment of support for the Ring of Fire and the mining industry.
The federal budget released last week stated that Ottawa has budgeted $4.4 million over three years for the Ring of Fire's Capacity Building Initiative through the Federal Government's Responsible Resource Development Plan.
The funding is available for activities such as business skills development, strategic business planning and Aboriginal youth engagement which are designed to ensure that First Nations benefit fully from resource development opportunities associated with Ring of Fire projects.
"It is clear after reading the Economic Action Plan that the Minister responsible for FedNor and the Ring of Fire, Tony Clement, and the Federal Government have listened to our ideas based upon our experiences in the Ring of Fire," said Chairman and Interim CEO of Noront Resources, Paul Parisotto.
NOT shares gained half-a-cent to $0.295.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
