Ring of Fire in 1929; a magnitude 8.1 in 1949 (Canada's largest recorded earthquake); and a magnitude 7.4 in 1970. The Ring of Fire is a direct result of plate tectonics: the movement and collisions of lithospheric plates. The eastern section of the ring is the result of the Nazca Plate and the Cocos Plate being subducted beneath the westward-moving South American Plate. The Cocos Plate is being subducted beneath the Caribbean Plate, in Central America. A portion of the Pacific Plate and the small Juan de Fuca Plate are being subducted beneath the North American Plate. Along the northern portion, the northwestward-moving
Ring of Fire (Northern Ontario) Bay. The Ring of Fire was named when the first significant mineral finds were made in the region, by Richard Nemis, after Johnny Cash's famous country and western ballad. Nemis, the founder and president of Noront Resources, was a lifelong fan of the singer. Prior to its discovery, Canada and the United States were compelled to rely on offshore sources for chromite, principally from South Africa. By the fall of 2011, the Ring of Fire was considered "one of the largest potential mineral reserves in Ontario" with "more than 35 junior and intermediate mining and exploration companies covering an area