Ring of Fire Updates Weekly News Roundup

December 8 -14, 2021: Weekly News Roundup

This week the news continued to focus on the jousting between two Australian Mining giants for Noront Resources, specifically with Wyloo Metals raising their bid. This led to Noront’s shares going up. Additionally, Doug Ford’s discourse around turning Ontario into a prominent electric vehicle manufacturing location made the news as well as ongoing Indigenous opposition.

December 14, 2021 (Mining Weekly):

Noront reviewing Wyloo transaction documents

Canadian nickel junior Noront Resources on Tuesday confirmed that it had received a nonbinding letter and related draft documents from Australian billionaire Andrew Forrest’s Wyloo Metals regarding a new takeover offer for the company. Read more here…

December 13, 2021 (Global News):

Premier Doug Ford pitching Ontario as electric vehicle leader, but not introducing rebates

Doug Ford is pitching Ontario as the next electric vehicle manufacturing powerhouse, seemingly a far cry from the premier who three years ago cancelled incentives for people to buy them. Read more here…

December 13, 2021 (Toronto Star):

Noront Resources shares soar after Wyloo Metals raises takeover offer

TORONTO – Shares of Noront Resources Ltd. gained nearly 50 per cent in early trading after Wyloo Metals Pty Ltd. raised its offer for the company in its takeover fight with BHP. Read more here…

December 12, 2021 (Reuters):

Wyloo raises offer for nickel miner Noront

 Australian billionaire Andrew Forrest’s Wyloo Metals on Monday raised its offer for Canadian nickel producer Noront Resources Ltd (NOT.V) shortly after failing to come to an agreement to support a rival bid by BHP Group (BHP.AX). Read more here…

December 12, 2021 (Financial Post):

Billionaire Andrew Forrest hikes bid for nickel miner Noront, reigniting battle with BHP

Mining giants are rushing to gain access to high-grade nickel deposits in Ontario’s Ring of Fire

Wyloo Metals Pty Ltd., owned by billionaire mining magnate Andrew Forrest, has boosted its offer to buy out Canadian nickel explorer Noront Resources Ltd., reigniting a battle with rival suitor BHP Group after talks broke down on a compromise deal. Read more here…

December 8, 2021 (Globe and Mail):

Ontario renews push to develop stalled Ring of Fire, but Indigenous opposition mounts


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