Chromite Northwestern Ontario

The owner of a valuable chromite deposit in northwestern Ontario is being taken over by a major U-S international iron ore and coal producer.

The deal for Freewest Resources by Cleveland Cliffs Natural Resources is 150 million dollars in stock.

Cleveland Cliffs plans to build an 800-million dollar open-pit mine and processing plant to
convert the ore into ferrochrome, used widely in stainless steel manufacturing.

The mine near Nakina would be North America's first major chromite producer with start up slated for 2015.