FAQ
Table of Contents
- 1.What is the ring of fire?
- 2.I have recently obtained old mining stocks/certificates. Are they still worth anything?
- 3.What is the growth plan for Northern Ontario?
- 4.What lands are liable to mining and land taxes?
- 5.What is the Northern Ontario Heritage Fund Corporation and how can I apply for one of its programs?
Got a question? You might find your answer by reading below.
What is the ring of fire?
The McFaulds Lake project or “Ring of Fire” refers to one of the most promising development opportunities in Northern Ontario in perhaps a century.
Located in Ontario’s Far North, the Ring of Fire contains many globally significant deposits of chromite (a key ingredient in stainless steel) as well as numerous deposits of nickel, copper and platinum.
The development opportunities provided by the Ring of Fire have the potential to become a significant economic development driver for Northern Ontario, supporting regional and community infrastructure development, and value added manufacturing. These opportunities would also provide significant economic development for a number of First Nation communities. This is a historic opportunity to think strategically and plan for economic development in an environmentally sustainable manner.
I have recently obtained old mining stocks/certificates. Are they still worth anything?
The Ministry of Energy, Northern Development and Mines does not have access to information concerning current and historical mining stocks/certificates. It is recommended that you contact one of the firms or sources listed below to assist you in determining the status of the mining stocks you are inquiring about.
- Financial Post Survey of Predecessor and Defunct Companies. This book is available at some libraries, and may be available through Interlibrary Loans.
- Canadian Mines Register of Dormant and Defunct Companies. This book is available at some libraries, and may be available through Interlibrary Loans.
- Stock Search International in Arizona (800) 537-4523, for information about certificates' values.
- Don G. Levy & Associates
- America West Archives Stock Research Service
What is the growth plan for Northern Ontario?
The Ontario government has released a strategic 25-year plan for Northern Ontario that guides decision-making and investment planning. The Growth Plan for Northern Ontario will help attract people and investments to the region, support training, education and employment opportunities, create a highly qualified workforce and position the northern economy to compete on a global scale.
What lands are liable to mining and land taxes?
Mining Land Tax (MLT) commenced in Ontario in 1907. Lands are liable to MLT for one of 3 reasons:
- The Crown granted the lands for mining purposes under authority of the Mining Act (or preceding legislation).
- The lands are used for mining purposes, regardless of how they were originally granted by the Crown.
- The mining rights are liable to tax if they are severed or held apart from the surface rights.
The majority of the approximately 18,000 lands on the Ministry tax roll fall under the first category.
The tax rate is a flat $4.00 per hectare.
For more information about this tax and how you may be eligible for exemption from the tax visit:
What is the Northern Ontario Heritage Fund Corporation and how can I apply for one of its programs?
The Northern Ontario Heritage Fund Corporation (NOHFC), established in 1988, is an agency of the Ministry of Energy, Northern Development and Mines mandated to promote and stimulate economic development in Northern Ontario. The Corporation has seven funding programs which provide financial assistance to projects, big and small, that support and diversify economic growth and job creation in the North.