Ring of Fire Updates Uncategorized Weekly News Roundup

August 17-23 2021 : Weekly News Roundup

Ring of Fire Roundup aug 17 to 23

Mining news this week continued to revolve around Australian mining giant, BHP, and their jousting with Wyloo Resources, another Australian company, over the acquisition of Noront. On the heals of the IPCC report on the devastating impacts of climate change, these companies are vying to profit off of resources that power electric vehicles, solar and batteries. These are market-based solutions that continue to drive profit, at the expense of people’s rights and sovereignty and are not a true solution to the climate crisis.

This is occurring as BHP announces it will invest $7.5 billion in its Jansen potash mine in Saskatchewan. Their investment in potash mining in predicated on predictions of further degradation of farmland and the need for heavy fertilization on depleted soils, again attempting to profit off the climate crisis.    

August 17, 2021 (Times Columnist):

BHP Group gives long-awaited go ahead for Jansen potash mine in Saskatchewan

“BHP Group has given the go-ahead to spend $7.5 billion on its Jansen potash mine in what Saskatchewan says is the largest investment in the province’s history.” Read more here…

August 19, 2021 (mining.com):

BHP Noront bid hits impasse as Wyloo won’t budge

“Wyloo Metals, the top shareholder of Noront Resources (TSXV: NOT), said on Thursday that it does not intend to support or tender the offer made by BHP to acquire Noront, and is considering making a “superior” offer to acquire the remaining stake in the Canadian nickel miner.” Read more here…

August 19, 2021 (Sault Star):

Wyloo may raise Noront bid

“Mining billionaire Andrew Forrest’s Wyloo Metals Pty Ltd., said on Thursday it would consider raising its buyout offer for Noront Resources Ltd after the Canadian nickel-copper miner recommended a rival bid from BHP last week.” Read more here…

August 19, 2021 (Regina Leader-Post):

Wyloo does not support BHP’s offer to acquire Noront Resources

Wyloo Metals Pty Ltd (“Wyloo Metals”) provides the following update regarding its intentions in relation to the offer by BHP Western Mining Resources International Pty Ltd (“BHP”) to acquire all of the outstanding common shares of Noront Resources Ltd (TSXV:NOT) (“Noront”). Read more here…

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