SAULT STE. MARIE, Ontario, Sept. 20, 2019 (GLOBE NEWSWIRE) — Noront Resources Ltd. (“Noront”) (TSX Venture: NOT) announced agreements with Algoma Steel Inc. and Hatch Ltd. today to facilitate development of the Ring of Fire mineral district and the associated Ontario-based processing facilities.
“Noront is partnering with two Ontario-based industrial and engineering giants to advance Ring of Fire development,” said Alan Coutts, President and CEO of Noront Resources. “This is truly a ‘made in Ontario’ collaboration on one of the most economically and socially important projects our province has seen.”
The agreement with Algoma provides Noront with a 5-year, renewable option to lease a brownfield property in Sault Ste. Marie for a period of 99 years. Noront plans to design, construct and operate a ferrochrome production facility which will service the company’s Ring of Fire chromite deposits. This agreement provides Noront and Algoma with an opportunity to re-purpose an existing brownfield location with a view to sharing infrastructure. Continue Reading →