ONTARIO – Canada Chrome Corp., a subsidiary of KWG Resources of Montreal, and Greenstone Economic Development Corp. have applied to PPP Canada for as much as $496 million with which to fund building a railway to the Ring of Fire mineral discoveries in the James Bay Lowlands. The co-applicants made the submission for themselves and a joint venture anticipated to be formed with the Municipality of Greenstone and a First Nations Regional Economic Development Corp. to be created by the Matawa and Mushkegowuk First Nations.
Canada Chrome has undertaken preliminary engineering and construction cost estimates to build a railroad from a junction with the Trans-Canada line of the Canadian National Railway at Exton, ON. The project is presently estimated to cost $1.984 billion.
Mineral exploration in the Ring of Fire may lead to the next generation of chrome, base metals, platinum group and diamond mines. The Big Daddy chromite deposit owned by KWG and Cliffs Natural Resources is one of them. In May 2010 the resources estimate included 23.2 million tonnes that grade 40.66% Cr2O3 in the indicated category and 16.3 million tonnes grading 39.09% Cr2O3 in the inferred category.
PPP Canada oversees the P3 Canada Fund, encouraging provinces, territories, First Nations and municipalities to consider the public-private partnership (3P) model for their public infrastructure needs. The P3 Canada Fund is a merit-based program designed to generate an increase in P3 public infrastructure. Eligible projects can receive up to 25% of the direct cost of construction for a P3 project. Learn more at www.P3Canada.ca.