First Nation chiefs still POed about Cliffs chromite sale – Northern Ontario Business
April 27, 2015
The chiefs of Marten Falls and Aroland First Nations said the sale of Cliffs Natural Resources’ chromite properties in the Ring of Fire to Noront Resources was not a fair one.
In an April 25 statement, Marten Falls Chief Bruce Achneepineskum and Chief Sonny Gagnon of Aroland said the bidding process was not “inclusive and transparent, leading to a potential unfair and biased outcome.”
The chiefs insist there is a “superior” bidder who has First Nation support, will benefit Cliffs’ creditors and help advance the chromite project.
Noront announced in March that it’s paying US $20 million to Cliffs for its chromite deposits, a fraction of the more than $500 million the Ohio miner paid to acquire and develop the claims.
