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Symbol on TSX-Venture Exchange: KWG
Shares issued and outstanding: 403,468,877
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MONTREAL, Sept. 24 /CNW/ - KWG Resources Inc (TSXV: KWG) subsidiary Canada Chrome Corporation has engaged Krech Ojard & Associates, P.A. of Duluth, Minnesota to provide engineering services for the construction of a new 350km (210 mi) railroad link to the Ring of Fire. Krech Ojard is a railroad engineering and construction firm that has completed a number of projects with KWG's principal shareholder Cliffs Natural Resources (NYSE: CLF) (Paris: CLF). Krech Ojard has identified and field refined a proposed route and is undertaking additional surveys to determine the final alignment. A feasibility study will then be completed prior to moving into the next phases of the project.
About Cliffs Natural Resources Inc:
Cliffs Natural Resources (NYSE: CLF) (Paris: CLF) is an international mining and natural resources company. It is the largest producer of iron ore pellets in North America, a major supplier of direct-shipping lump and fines iron ore out of Australia and a significant producer of metallurgical coal. With core values of environmental and capital stewardship, Cliffs' colleagues across the globe endeavour to provide all stakeholders operating and financial transparency as embodied in the Global Reporting Initiative (GRI) framework. The Company is organized through three geographic business units:
The North American business unit is comprised of six iron ore mines owned or managed in Michigan, Minnesota and Eastern Canada, and two coking coal mining complexes located in West Virginia and Alabama. The Asia Pacific business unit is comprised of two iron ore mining complexes in Western Australia and a 45% economic interest in a coking and thermal coal mine in Queensland, Australia. The South American business unit includes a 30% interest in the Amapa Project, an iron ore project in the state of Amapa in Brazil. Over recent years, Cliffs has been executing a strategy designed to achieve scale in the mining industry and focused on serving the world's largest and fastest growing steel markets.
About KWG Resources Inc:
KWG Resources is a mineral exploration company with extensive claim holdings in the James Bay Lowlands of Northern Ontario, Canada, where important discoveries of nickel and chrome have been made recently in the Ring of Fire. KWG has an equal joint venture interest in a large claim block in the central part of the discovery area, with Spider Resources Inc. The joint venture is developing the Big Daddy chromite deposit adjacent to the Black Thor and Black Label chromite discoveries of Freewest Resources. KWG holds a 1% net smelter royalty in all three deposits and has created Canada Chrome Corporation to pursue the development of them.
