According to the World Times related data, There will be a news about Ring of Fire’ region mining industry in Canda.
The ‘Ring of Fire’ region in northern Ontario has a substantial economic opportunity to generate revenue and employment in the domestic mining industry. The ‘Ring of Fire’ is a crescent-shaped area west of James Bay. The region covers approximately 5,000km2 area, and is home to a massive mineral potential of approximately CAD60 billion (US$54.8 billion), attracting large investment in a variety of minerals and metals such as nickel, zinc and copper. The Ontario Chamber of Commerce (OCC) estimates that over the first 10 years of the Ring of Fire’s mining development, the region is likely to contribute between CAD5.1 billion (US$4.7 billion) and CAD10 billion ( US$9.1 billion) to Ontario’s gross domestic product.
Many ore mining business investors want invest for‘Ring of Fire’region market $ 1 billion for the mining industry developments. This will bring enormous business opportunities and profits Canadian mining industry. It Will make the rapid development of ore mining machinery industry, more and more investors looking for more advanced mining techniques, and more environmentally friendly mining technology and mining machinery.
Beyond the references to its globally representative challenges, Canada has its own very specific structures to be addressed. Mining operations are prevalent in all 10 provinces and three territories. Each province is governed by a provincial government that manages and develops mineral resources belonging to that province.
The country’s competitive advantage of having a massive mineral resource base has transformed the country into a top destination for exploration, with domestic exploration spending accounting for 16% of global mining investment in 2015.
The Government of Canada is also looking forward to inject the funds can bring huge economic benefits for the country!