Miner Cliffs Natural Resources Inc has lost a key land dispute at a Canadian tribunal that could cause more problems for its already troubled Black Thor chromite project in northern Ontario's mineral-rich Ring of Fire.Cliffs cannot build a proposed highway to the wilderness region without the consent of tiny rival KWG Resources Inc , which has staked claims along the route and wants to build a railway instead, the Ontario Mining and Lands Commissioner said in a decision dated Sept. 10 and posted online by KWG.Cliffs spokeswoman Patricia Persico said the iron ore miner is considering its options, including appealing the decision. It was not immediately clear what body would hear an appeal."It does put the project in jeopardy," said Persico, who noted that the highway is a "necessary" part of Black Thor.
Cliffs Natural Resources Inc. is an international mining and natural resources company. Shares of CLF fell by 0.71% or $-0.17/share to $23.62. In the past year, the shares have traded as low as $15.41 and as high as $46.83. On average, 8671170 shares of CLF exchange hands on a given day and today's volume is recorded at 7542403.
KWG Resources Inc. (KWG) is an exploration-stage company. Shares of KWG traded higher by 10.0% or $0.005/share to $0.06. In the past year, the shares have traded as low as $0.04 and as high as $0.08. On average, 196108 shares of KWG.V exchange hands on a given day and today's volume is recorded at 7043990.
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