Fifteen years without material progress has made Northern Ontario’s Ring of Fire mining project the source of much talk and scrutiny. But Noront Resources CEO Alan Coutts said Tuesday that the company’s recent acquisition by Australian company Wyloo Metal Ltd. may be the kick-start the project needs.
Coutts made the comments during an address hosted by the Greater Sudbury Chamber of Commons. His goal was to provide details of the tumultuous last few months, where a bidding war for control of Noront raised questions about the Ring of Fire’s future. Due to its prevalance in the mining industry, Sudbury has always had a particular interest in the project.
“We’ve always had a lot of support coming out of the Sudbury area,” said Coutts. “The people are knowledgeable and they’re interested in the developments in the Ring of Fire, so it’s just kind of natural to provide an update, especially with so much happening recently.”
First discovered in 2007, the Ring of Fire is a massive mineral deposit in the James Bay Lowlands of Northern Ontario, which has been the site of planned chromite mine and smelting development project for over a decade.