Noront Resources committed to Ring of Fire, president says

The president of Noront Resources is adamant that market demand for metals will keep his company committed to the Ring of Fire despite a lack of progress in the resource-rich region.

Alan Coutts said while it's true that the market for chromite is down, there are plenty of other metals in the area that are desirable, which makes the project worthwhile.

"AtNoront,we think this is a great area to be working in, and we intend to persevere," Coutts told CBC News.

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"So, even though the markets for chromite are down, the markets for nickel and platinum and palladium are still reasonably robust. And so we're focusing on developing a nickel, copper, platinum, palladium mine first."

However,lack of progress on development at the Ring of Fire due to environment and regional concerns has evoked some fears that the project may not happen.

"It's complicated. There's lots of moving parts," said Coutts. "You've got toget the investors excited and willing to back you and these recent markets haven't been all that enticing."

"It's often ... two steps forward, one step back."

The executive also said the new federal leadership may help expedite work on the project. Coutts said he's hopeful that the federal and provincial governmentswill band together to ensure progress is made.

"We expect to see more co-operation in that light," he said, referencing the need for roads to be built in the area.