Australian miner floats battery metals supply chain concept, proposes $100 million in First Nation contract awards
If a mine gets built in the Ring of Fire under the Wyloo Metals flag, it will be a net zero emissions operation.
The Australian mining investment company, which is making a play to take over Noront Resources’ nickel, chrome and metal assets in the James Bay region, said it’s prepared to open its wallet to find ways to reduce the environmental impact of mining in the Far North, will train and hire Indigenous people, and will award millions in contracts to First Nation-owned companies.
The Perth-headquartered company is floating the concept of a Future Metals Hub that would be developed in collaboration with First Nation communities and other regional stakeholders. Their intent is to look at the possibility of establishing a supply chain in Ontario to make the materials needed for the electric vehicle battery industry.
Wyloo owns 37 per cent of Noront in shares and convertible debt after a deal was struck last fall. The Australian company wants to acquire all of the shares in Noront that it does not currently own. Despite their unsolicited offer, Wyloo has not yet made a formal bid to Noront.
In a May 31 news release, Wyloo said the proposed Eagle’s Nest nickel mine – the first mine project in the development queue –will be a zero carbon emissions mine.