Australian miner tables a socio-economic and green agenda to benefit Indigenous business and deliver a net-zero mine
The Ring of Fire’s newest player contends it will “set a new global benchmark in sustainable mining” in Ontario’s Far North. Australia’s Wyloo Metals announced April 7 that it has formally completed its acquisition of Noront Resources and its flagship Eagle’s Nest nickel asset in the James Bay region.
After Noront shareholders gave their blessing on March 15, the final court and stock trading regulatory hurdles have now been cleared.
Wyloo now owns all of the shares of Noront that it did not own. Wyloo came aboard as Noront’s largest shareholder in December 2020 and beat out BHP last December with a $616.9-million bid.
The Perth-based mining company, which is making its first foray abroad, is arriving in Canada with a clean and green development strategy and a very progressive agenda on its path to bring development to the Ring of Fire.