Ring of Fire Updates Weekly News Roundup

July 20-26, 2021 : Weekly News Roundup

This week’s news focused on Wyloo Metals, an Australian company seeking to increase its stake in Noront Resource.  The company has “an eye on securing a global supply of metals used to make electric vehicle batteries.” It is important to watch the language and assertion that minerals in the Ring of Fire are necessary for a shift away from fossil fuels.  A just transition away from fossil fuels does not include ignoring Indigenous rights and title. It isn’t clean energy if it harms water, land and people and we know there are alternatives.  

The other news from the region focused on the Federal NDP leader and other NDP caucus members visiting Nesktantaga and highlighted their commentary on the clean drinking water crisis. With an upcoming election there is apt to be a lot of dialogue on the need for clean drinking water but we want to see action.  

June 26, 2021 (Northern Ontario Business):

Australians aim to take a bigger chunk of the Ring of Fire

Wyloo Metals to increase its stake in Noront Resources by converting debt loan into shares

Wyloo Metals is prepared to boost its ownership in the Ring of Fire, as expected. 

The Perth-headquartered company, which is in the midst of an all-cash take-over bid of Noront Resources, confirmed on July 23 that it plans to convert a US$15 million convertible loan into common shares of Noront, thus increasing its majority stake in the Toronto junior miner from 24.4 per cent to 37.5 per cent.

Read more here…

July 26, 2021 (TB News Watch):

NDP leader promises to end boil-water advisories in Indigenous communities

Jagmeet Singh said it was shocking to hear stories on Monday from Neskantaga First Nation youth who have never known life with a promise of clean drinking water from the taps in their homes.

 NDP Leader Jagmeet Singh says it’s heartbreaking to think young people in a northern community like Nesktantaga First Nation have never not lived under a boil-water advisory.

Read more here…

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