Cliffs Natural Resources, the largest company hoping to develop mining in the Ring of Fire in Ontario

Cliffs Natural Resources, the largest company hoping to develop mining in the Ring of Fire in Ontario, says it intendes to divest itself of its $3.3-billion project. Marten Falls First Nation was sent a letter by the company, under the economic pressures of high debt and low commodity prices, to say it is seeking “strategic alternatives,” including the sale of the Black Thor chromite project. The 5,000 square kilometres known as the Ring of Fire is believed to contain $50 billion in mineral deposits.