Pacific Ocean closed loop of the andesite line are most of the deep troughs, submerged volcanic mountains, and oceanic volcanic islands that characterize the Pacific basin. Here basaltic lavas gently flow out of rifts to build huge dome-shaped volcanic mountains whose eroded summits form island arcs, chains, and clusters. Outside the andesite line, volcanism is of the explosive type, and the Pacific Ring of Fire is the world's foremost belt of explosive volcanism. The Ring of Fire is named after the several hundred active volcanoes that sit above the various subduction zones. The Pacific Ocean is the only ocean which is almost
Ring of Fire (Northern Ontario) that will spin-off jobs and economic activity for generations". In May 2012, Cliffs Natural Resources announced its intention of investing $3.3-billion in Northern Ontario's Ring of Fire region, which would include a chromite mine, a transportation corridor and a smelter in Sudbury, Ontario. Cliffs initially invested $550-million to acquire and begin development. By 2013, Cliffs had suspended the project "after numerous delays and difficult discussions with the province [of Ontario] and the First Nations communities". Cliffs sold its assets to the smaller Canadian company, Noront Resources Ltd. for USD20 million. In February 2013, KWG Resources, a Toronto-based junior miner, released