Wyloo Metals CEO gives update on Ring of Fire mining projects, though First Nations resistance continues – by Michelle Allan (CBC News Thunder Bay – January 23, 2024)


Some First Nations still opposed to development as need for critical minerals grows

As the demand for critical minerals grows, the CEO of the main company involved in northern Ontario’s Ring of Fire says it’s developing a nickel deposit that could be producing minerals for two decades.

Wyloo Metals CEO Kristan Straub gave the update Tuesday in a speech to business leaders in Thunder Bay, where he outlined the company’s plans for the Ring of Fire and discussed how his company is engaging with First Nations in the region now and into the future. “[Eagle’s Nest] is Canada’s best opportunity for a new nickel sulphide deposit,” Straub said.

Straub was speaking about Wyloo’s Eagles Nest site, approximately 500 kilometers northeast of Thunder Bay. Of all the company’s mining hopes in northern Ontario’s Ring of Fire mineral deposit, he said this site is where it is choosing to develop first. It’s the most promising discovery and the mining project closest to production in the region.

Eagle’s Nest would produce 15,000 tons of nickel annually for an expected 20 years, said Straub. Wyloo metals, (formerly known as Ring of Fire Metals and Noront Resources) is an Australian-based mining giant ultimately controlled by billionaire Andrew Forrest. The company holds the majority of established mining claims in the region, which it says contains minerals worth around $90 billion.

For the rest of this article: https://www.cbc.ca/news/canada/thunder-bay/wyloo-metals-ceo-update-1.7092369