Weekly News Roundup

December 28 2021-January 3, 2022: Weekly News Roundup

Mining company KWG is collaborating with Matawa and Mushkegowuk First Nations to plan a rail, hydro, and road corridor in the region. They claim that both the environmental impact and the operating costs of the rail line would be less than using trucks for their ore extraction.

Wyloo metals and Noront resources continue their financial arrangements as Wyloo prepares to buy-out Noront’s mineral claims in the Ring of Fire region.

December 28, 2021 (Toronto Star)

Noront vote in the new year

“THUNDER BAY — Shareholders of Ring of Fire proponent Noront Resources are to vote no later than March 31 on a proposed agreement that will see an Australian investment firm take control of the company.

In an update last week about its agreement reached with Wyloo Metals, Toronto-based Noront said it expects the arrangement to be finalized before the end of the first business quarter of 2022.” Read more here . . .

December 28, 2021 (TB News Watch)

Ore haulage tramway system to Ring of Fire could cost $840 million

KWG Resources hopes to float a bond issue for construction financing

“TORONTO — Whether it’s by road or by rail, transporting ore out of Northern Ontario’s Ring of Fire mineral zone won’t be cheap.

The Ontario government supports a road link but one of the stakeholders in the Ring of Fire, KWG Resources, continues to plan for a specialized rail line.” Read more here . . .

December 28, 2021 (Toronto Star)

Ring of Fire rail costly

“THUNDER BAY — The cost of building a specialized rail line to haul ore out of the remote Ring of Fire mineral belt has been pegged at US$657 million.

Toronto-based proponent KWG Resources has long contended that transporting ore by an electrified railway would be cheaper and better for the environment than doing so by diesel-powered trucks.” Read more here . . .

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