Noront Resources’ board likes what BHP has to offer – by Staff (Northern Ontario Business – August 10, 2021)

Environmental groups claim Ring of Fire mine developer is hiding something, wants OSC to investigate

Ring of Fire mine developer Noront Resources is urging its shareholders to accept BHP Group’s offer to buy its nickel, copper and chromite properties in Ontario’s Far North.

BHP, one of the world’s largest mining companies, entered the picture in late July with a cash offer of $325 million, or $0.55 cents a share, to best a hostile insider takeover offer made by its Australian rival Wyloo, Noront’s biggest shareholder at 25 per cent. Wyloo is owned by Australian mining magnate Andrew Forrest.

In a mere formality, Noront said it has filed a directors’ circular recommending its shareholders accept the BHP offer. Noront’s board of directors said it represents a 129 per cent higher premium than where Noront’s shares were trading before Wyloo made its unsolicited bid at the end of May, and is 75 per cent higher than $0.315 share offer proposed by Wyloo.

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New mines, hundreds of jobs, loom on the horizon for Northern Ontario – by Staff (Northern Ontario Business – August 9, 2021)

Open-pit construction underway in Gogama, Dubreuilville and poised to start at Geraldton

Northern Ontario has a raft of new mines currently under construction or close to turning the sod, mainly driven by steady gold prices.

Three companies, with multi-million-dollar open-pit projects on the books in Gogama, Dubreuilville and Geraldton, posted recent updates as hundreds of contractors are streaming to the sites to drill and blast and erect new infrastructure.

Halfway between Timmins and Sudbury, more than 700 contractors are building IAMGOLD’s Côté Gold open-pit mine outside the town of Gogama. Côté, located just off Highway 144, is 130 kilometres southwest of Timmins and 175 kilometres north of Sudbury.

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NEWS RELEASE: Noront Files Directors’ Circular in Support of BHP’s All-Cash Offer for Noront and Recommends Shareholders Accept the Offer (Noront Resource – August 9, 2021)

TORONTO, Aug. 09, 2021 (GLOBE NEWSWIRE) — Noront Resources Ltd. (TSXV: NOT) (“Noront” or the “Company”) today announced that it has filed a directors’ circular (the “Directors’ Circular”) in connection with the proposed acquisition of Noront by BHP Western Mining Resources International Pty Ltd (“BHP” or the “Offeror”), a wholly-owned subsidiary of BHP Lonsdale Investments Pty Ltd. (“BHP Lonsdale”).

The Transaction

As announced on July 27, 2021, Noront entered into a definitive Support Agreement pursuant to which BHP has made a take-over bid to acquire all of the issued and outstanding common shares of Noront (the “Noront Shares”) for C$0.55 per Noront Share in cash (the “Offer”). The total equity value of the transaction is C$325 million (based on 100% of the fully diluted shares outstanding).

The cash consideration of C$0.55 per Noront Share (the “Offer Price”) represents a premium of 129% to Noront’s unaffected closing price of C$0.24 on May 21, 2021, the last trading day prior to the date that Wyloo Metals Pty Ltd. (“Wyloo”) first publicly announced its intention to make an offer for Noront, and is C$0.235 per share, or 75%, higher than the C$0.315 per share proposed by Wyloo in its announcement on May 25, 2021.

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Indigenous Leaders: Tina Sheridan looks to lift up Indigenous entrepreneurs – by Ian Ross (Northern Ontario Business – August 6, 2021)

Founder of CreeQuest Corp. has Canada-wide ambitions for her Indigenous mining services company

The motivation behind Tina Sheridan’s journey into entrepreneurship is quite simple and stark.

“Hunger and poverty,” said the founder and president of CreeQuest Corp, a company she grew from a side hustle into a full-service, Indigenous-owned mining service company over a 10-year span. CreeQuest and its partners have put 120 people to work, more than half being women and close to half are Indigenous.

“If you experience hunger and poverty in any way and you have an opportunity and an open door to make a change, and if you have the confidence and take the leap and do it, then good things can happen,” said Sheridan, a member of Taykwa Tagamou Nation (TTN).

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NEWS RELEASE: Coalition Finds Noront Has Not Disclosed Business Risk from Indigenous Opposition, Calls for OSC to Investigate Ring of Fire Proponent (August 6, 2021)

Osgoode Hall Law School’s Environmental Justice & Sustainability Clinic research into Noront Resources Ltd. shows that the junior mining firm has not disclosed risks to its business stemming from significant Indigenous opposition to its flagship project in its most recent annual reports, annual information forms, management discussions and analyses, and news releases.

“Indigenous opposition, and the regulatory risk it poses, can have a material impact,” said Dr. Dayna Nadine Scott, Associate Professor at Osgoode Hall Law School and Co-Director of the Clinic. “If known, First Nation opposition to projects should be disclosed to investors. Companies should not be cherry-picking information and only mentioning relationships with communities that support their projects. That’s why we are urging Ontario regulators to conduct an investigation into Noront’s disclosures in the Ring of Fire, where Indigenous interests are significant and the communities are divided.”

Just as competing offers to buy Noront by two major mining companies, BHP and Wyloo Metals, are bringing increased attention to the company, Osgoode Hall Law School’s Environmental Justice & Sustainability Clinic, Greenpeace, the Council of Canadians, and MiningWatch Canada today wrote to the Ontario Securities Commission (OSC), Ontario’s corporate regulator, asking for an investigation into the adequacy of Indigenous risk disclosure by Noront.

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Steelworkers, Vale looking forward with new contract in hand – by Colleen Romaniuk (Sudbury Star – August 4, 2021)

United Steelworkers (USW) Local 6500 voted to ratify a new five-year collective bargaining agreement with Vale on Tuesday evening. The union’s president, Nick Larochelle, said that 85 per cent of its membership voted in favour of the new deal, effectively ending the 64-day strike that began on June 1.

Vale employees will return to work the week of Aug. 9 with production ramping up in the coming weeks. Larochelle said he’s proud the USW membership’s conduct throughout the strike and he’s happy this agreement works for both parties.

“We’re looking forward to making our members successful as we work with Vale to achieve economic success and longevity here in this world-class ore body,” he said.

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Mining the Northwest: Generation Mining plots the path forward in Marathon – by Staff (Northern Ontario Business – August 3, 2021)

Toronto mine developer looks to raise $665M to build North Shore open-pit palladium, copper mine

The wheels are beginning to turn in planning the development of an open-pit palladium and copper mine outside the town of Marathon.

Toronto’s Generation Mining had been holding off revealing its plans until its joint venture partner, South Africa’s Sibanye-Stillwater, decided not to buy back into the mining project it had optioned to Gen Mining two summers ago.

Since appearing on the North Shore of Lake Superior in 2019, Generation has been on an aggressive exploration and development track at Marathon. And it appears nothing has changed based on their upcoming plans over the next few months, as outlined in a web call that company management delivered to investors on July 27. Generation now holds an 81 per cent controlling interest in the project.

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Local 6500 votes for new five-year contract with Vale – by Staff (Sudbury Star – August 3, 2021)

Strike that began June 1 is over

Local 6500 members have strongly endorsed a new five-year collective agreement with Vale.

“The past two months have been challenging for everyone,” said Dino Otranto, Chief Operating Officer, North Atlantic Operations for Vale, in announcing the deal has been ratified. “We are pleased that the company and the union were able to find common ground and a path forward. We look forward to welcoming everyone back.

“Our task now is to position our business to thrive today and for generations to come. We have many opportunities ahead of us, with the growing electric vehicle market. The nickel, copper and cobalt we produce are critical metals to achieving a low carbon future.

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BHP to expand nickel operations to meet soaring demand – by Cecilia Jamasmie ( – August 3, 2021)

BHP (ASX, LON, NYSE: BHP) will make a final investment decision on a major expansion of the processing plant at its Mt. Keith nickel mine in Western Australia as it invests further in battery metals to meet expected soaring demand.

Nickel is a key component for EVs cathodes, and the world’s no. 1 miner sees nickel demand growing faster than anticipated due to a spike in the adoption of electric vehicles (EVs), as governments commit to decarbonizing their economies and set end dates for combustion engine sales.

“We believe that over 2020 to 2030, overall nickel demand will grow at 5% compound annual growth rate, and that nickel-in-battery demand will grow at a rate of 21% CAGR,” BHP Nickel West president Eddy Haegel told the annual Diggers and Dealers conference on Tuesday.

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Porcupine camp aimed to impress hosting 1923 mining engineers conference – by Karen Bachmann (Timmins Daily Press – July 30, 2021)

Karen Bachmann is the director/curator of the Timmins Museum.

And what, pray tell, occupied the hearts and minds of Porcupine residents during the summer of 1923 – if you answered with a “who cares?”, then don’t bother finishing the article – if you want to know, keep on reading.

This should tell you just how rich the area was when it came to gold: teamsters and labourers working on the road between Timmins and the Paymaster Mine (the Back Road, or Gold Mine Road as we know it today), reported finding excellent samples of high grade gold in the rock they were using from the mine dump as the top dressing for the new road.

The government had struck a deal with the mine to use their waste rock to finish the work; workers were thrilled to find some pretty spectacular samples in their carts and on the road itself.

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Sudbury Accent: Wolf Lake supporters worry about its future – by Jim Moodie (Sudbury Star – July 31, 2021)

They want it to become a park, but the area is also home to promising mine exploration

There’s a smoky haze overhead and the remains of an old cabin near our tent. Neither really detracts from this visit to Wolf Lake, arguably still the most scenic location in the Sudbury area, not to mention its most ecologically significant.

In some ways they only enhance the experience. I have never seen a sun so diffuse and orange, for instance, nor do I remotely mind — being a cabin dweller myself — finding traces of a rudimentary abode in the bush.

They do prove, however, that Wolf Lake is not quite so pristine or isolated as one might think, or wish to be the case. It has been inhabited in the past, and it won’t escape an ill wind of the present.

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BHP was rebuffed twice by Noront’s biggest shareholder before making takeover bid – by Niall McGee (Globe and Mail – July 31, 2021)

BHP Group Ltd. had designs on Ring of Fire exploration company Noront Resources Ltd as early as the spring, but on two occasions its plans were stymied by Wyloo Metals Ltd., Noront’s biggest stakeholder.

Melbourne-based BHP on Tuesday made a $0.55 a share takeover offer for Noront, obliterating a previous $0.315 approach by fellow Australian company Wyloo Metals.

A regulatory filing this week shows that BHP first approached Toronto-based Noront in April with a proposal to acquire a 9.9 per cent stake in the company.

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First Nation and gold junior miner set the ground rules for exploration – by Staff (Northern Ontario Business – July 29, 2021)

First Mining inks exploration agreement with Animakee Wa Zhing #37 on drill program near Sioux Narrows

A Vancouver mine gold developer has signed a mineral exploration agreement with a northwestern Ontario First Nation.

First Mining Gold entered into the agreement with Animakee Wa Zhing #37 First Nation (AWZ 37) with an upcoming drilling program scheduled at the company’s Cameron Gold Project, just east of Sioux Narrows and 80 kilometres southeast of Kenora.

The 528-square-kilometre property is within the traditional territory of AWZ 37. The agreement between the company and the community sets out the framework for communication and cooperation for exploration activities that could involve hauling away an old ore pile on the property for processing elsewhere.

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Cobalt company collaborates with Timiskaming First Nation on medicinal, edible plant study – by Staff (Northern Ontario Business – July 28, 2021)

First Cobalt partners on Indigenous community initiative to assess long-term impacts of industrial contamination on wild plants

The Toronto mining company that’s overhauling a metals refinery outside the town of Cobalt has launched a unique environmental and community initiative with an area First Nation.

First Cobalt is working with Timiskaming First Nation on a two-year study to assess the historic impact of settlement, logging, mining and industrial processes on the ecosystem in the former Cobalt mining district.

Specifically, this tag-team study is examining the long-term impact on medicinal plants and mushrooms in this area of the Timiskaming region.

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BHP and Forrest may be better together on nickel play (Australian Financial Review – July 28, 2021)

BHP might have trumped Andrew Forrest’s bid for a Canadian nickel miner, but there’s no reason the pair can’t form a partnership on this project.

The prospect of iron ore titans Andrew Forrest and BHP duking it out over a Canadian nickel junior is obviously delicious. But the rational move is for the old foes to get into bed together on what both clearly see as a great opportunity amid a broader rush for battery minerals.

BHP announced on Tuesday night a $C325 million ($351 million) bid for Noront, which has a highly rated nickel project called Eagle’s Nest in Ontario’s Ring of Fire region (how Game of Thrones is that?) some 1200 kilometres north of Toronto.

The Big Australian’s bid, which has the support of the Noront executive team (which owns 9.9 per cent of the company), is pitched at a 75 per cent premium to the takeover bid by Forrest’s Wyloo Metals in May.

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