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CEO of Ring of Fire Metals also says mineral-rich area contains minerals coveted for the growing electric vehicle market
While chromite for the steel industry has been a major focus of developing the Ring of Fire in the province’s far north, the area is also rich in other minerals coveted for the growing electric vehicle market.
“We’re a firm believer that the Ring of Fire hosts multiple nickel deposits, not unlike Sudbury,” said Stephen Flewelling, CEO of Ring of Fire Metals, in a virtual presentation to a Greater Sudbury Chamber of Commerce luncheon on Thursday.
The U.S. has identified a number of critical minerals and metals needed to sustain its economy and produce EV batteries, noted Flewelling, who previously held senior roles with Glencore and Xstrata. Simultaneously, there have been “tightening supply challenges” due to the war in Ukraine and the dominance of China in some areas.
“So there is a great opportunity for producers such as Ring of Fire Metals to take advantage of that and supply needed metals, particularly in the U.S. market,” he said. Flewelling said the focus of his company, a subsidiary of Australia-based Wyloo Metals, is to first develop its Eagle’s Nest property, which boasts one of the best high-grade nickel sulphide deposits in the world.
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