Australian mining giants ramp up Ring of Fire takeover – by Jeff Walters (CBC News Thunder Bay – October 21, 2021)

Both companies looking to buy out Noront Resources

Two Australian mining giants are doing their best to convince investors they have the superior deal, to takeover Noront Resources and its properties in the Ring of Fire.

The mining area, about 500 kilometres northeast of Thunder Bay, Ont. has chromite, nickel and copper deposits. The two Australian companies, BHP and Wyloo Metals have been engaged in a battle to have the mineral rights in the remote mining area, to which one analyst compares to the long producing Sudbury basin.

“They came up here and said, ‘Oh my god, this is amazing geology,'” said Stan Sudol, a mining columnist and owner of “The price of these juniors or the price to acquire this ground is so low, and they are, like Canadians, they’re miners to the world, so they snapped up a lot of properties,” Sudol said.

“The demand for base metals, especially nickel and copper, which you use a lot more of when you build electric vehicles compared to gas-powered vehicles, they just jumped at the opportunity to pick up really promising deposits.”

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