In 2014, Kathleen Wynne`s Liberals agreed on a regional framework agreement with the Matawa Tribal Council, which consists of nine First Nations. The framework negotiated by retired Supreme Court Justice Frank Iacobucci on behalf of the province and former Prime Minister Bob Rae on behalf of Matawa has defined the conditions for future projects related to the proposed Ring of Fire. It should serve as a model for Crown-Aboriginal relations in major resource extraction projects. Improved road infrastructure in the north, including full-time roads, can reduce the cost of providing consumer goods, fuel and building materials. Roads also provide communities with better access to basic health care and other services. But in August, the Ford government tore up these agreements in favor of new individual agreements with the nine First Nations. In May 2017, representatives of the KWG and Marten Falls First Nation (MFFN) leased the FSDI headquarters in Xian, China, officially on The FSDI feasibility study estimated the cost of capital for the construction of Far North Railroad at approximately $2 billion, according to a June 2017 Northern Ontario Business article[ 17]. 24 million tons.  To complete the project, KWG sought funding from both China and the Ontario government, including procurement agreements with the Chinese stainless steel industry.  In the fall of 2011, the Ring of Fire was considered “one of Ontario`s largest potential mineral reserves” with “more than 35 mining and young boys and intermediate exploration companies covering an area of approximately 1.5 million hectares.”  Although the Ring of the Fire Crescent covers 5,000 square kilometres, most of the discoveries made up to 2012 were within a 20-kilometre-long strip.  Michael Gravelle, Ontario`s Minister for Northern Development, Mining and Forestry, called the region “one of the most promising opportunities for mineral development in Ontario for more than a century.”  Tony Clement, President of the Department of Finance of Canada and Minister FedNor, responsible for the Ring of Fire, said it will be the economic equivalent of the Athabasca oil sands, with a potential of $120 billion.
 Clement says the Ring of Fire represents “a unique opportunity to create jobs and long-term growth and prosperity for Northern Ontario and the nation.”  Challenges in the development of the Ring of Fire-Minerals include lack of access to remote areas, lack of infrastructure such as roads, railways, electricity and broadband, First Nations land rights and environmental issues in the “3rd largest wetland in the world.”  Clement wanted the economy, not the federal government, to “invest in energy and transportation infrastructure to develop the deposit.”  On April 26, 2013, Tony Clement called the Ring of Fire the Ontario oil sands.  On June 13, 2013, Cliffs announced that it was suspending its $3.3 billion project pending negotiations between First Nations and Queen`s Park.  Clement stated that the Ring of Fire would bring “about a hundred years of mining activity that will relocate jobs and economic activities for generations.”  At the end of August 2019, Rickford announced that the Province of Ontario was resolving the regional framework agreement and that it would come into effect in 90 days.