THUNDER BAY, ONT. — The sale of Toronto-based Ring of Fire explorer Noront Resources to the Australian mining company Wyloo Metals is quickly approaching the finalization date of April 7.
A bidding war was won by Wyloo with a $617-million proposal and approved by Noront shareholders. The merger serves as the first attempt by the Australian mining company coming to Canada to revive a dormant, prime mineral belt.
Local business owners, politicians and First Nation leaders met with Wyloo Metals chief executive officer Luca Giacovazzi last month in Thunder Bay. The informal visit, organized by the Thunder Bay Chamber of Commerce, involved several meetings throughout the city to introduce Giacovazzi to the stakeholders, make connections and to discuss his vision for the Eagle’s Nest project.
Giacovazzi spoke about the Perth-based company’s past projects and their current involvements in other areas. Charla Robinson, chamber president, said the Eagle’s Nest project is the first project they will be working with because of a huge growth in demand for copper, nickel, platinum and palladium for battery production.
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