The province of Ontario has established the Ring of Fire Infrastructure Development Corporation within the promised window of 60 days. The not-for-profit corporation was set after Ontario pledged on July 3, 2014 to put up the company in just two months.

The ROF Infrastructure Development Corporation is integral to the promotion of progress in the Ring of Fire, a region believed to have a mineral potential worth $60 billion. Located 540 kilometers northeast of Thunder Bay, the Ring of Fire’s mineral potential includes the largest chromite deposit ever found in North America to date. The said corporation, which currently has four of the province’s public servants on its interim board, will focus on the First Nations as well as public and private sectors to form partnerships. Ultimately making decisions regarding transportation infrastructure.

The role of the current four-member Board of Directors will be to put in place the necessary structures so that the partners can decide on their level of participation in the development firm. When the corporation becomes fully-formed, it will be capable of giving advice regarding critical investment on the province’s infrastructure. It will also determine how the province’s $1 billion commitment to infrastructure development in the Ring of Fire can be used best.

Ontario is investing in the Ring of Fire as part of its economic plan that puts primary importance in constructing modern infrastructures, investing in people and promoting a business climate that is modern and vibrant.