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Two mining exploration camps are pictured in the proposed Ring of Fire development area, approximately 500 kilometres northeast of Thunder Bay, Ontario. (HANDOUT/REUTERS)
Two mining exploration camps are pictured in the proposed Ring of Fire development area, approximately 500 kilometres northeast of Thunder Bay, Ontario. (HANDOUT/REUTERS)

Ottawa cools to Ring of Fire’s potential Add to ...

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Ottawa has been throwing cold water on the Ring of Fire, a mineral deposit in Northern Ontario that was once thought to be worth more than $60-billion.

Since the federal Liberal Party came to power last year, the government has stonewalled requests to pay for infrastructure, lowered expectations for development and slashed its valuation for the deposit, according to internal Department of Natural Resources documents obtained by The Globe and Mail.

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