THUNDER BAY — An Australian company could soon be leading the charge to build the first nickel mine in the Ring of Fire mineral belt if Noront Resources shareholders approve the move next month.
Investors who hold shares in Toronto-based Noront can vote at a virtual special meeting set for March 15 on a deal to have the company taken over by a subsidiary of Wyloo Metals, a Noront news release said Wednesday.
Wyloo, which is headquartered in Perth, won in December a prolonged bidding war with Australian mining, oil and gas giant BHP for control of Noront and its Ring of Fire properties.
Noront’s board is recommending its shareholders accept Wyloo’s top bid of $1.10 per share. If the deal with Wyloo is approved, the company overseeing Noront’s Ring of Fire operations would be called Wyloo Canada.
For the rest of this article: https://www.thestar.com/news/canada/2022/02/17/big-vote-for-noront-coming.html