Weekly News Roundup

April 6-12, 2022 : Weekly News Roundup

Ring of Fire Roundup (April 6 - 12)

This week the takeover of Noront Resources by Australian mining giant was finalized. As the Provincial election approaches, Ontario Premier Doug Ford speaks to a critical minerals and “clean” industry strategy and incentives while the Canadian Federal government released a budget proposing a 30 per cent tax credit for minerals in the Ring of Fire tied to electric vehicles.

April 5, 2022 (Sudbury Star):

Wyloo lays out vision for mining, Ring of Fire

The sale of Toronto-based Ring of Fire explorer Noront Resources to the Australian mining company Wyloo Metals is quickly approaching the finalization date of April 7. Read more here…

April 7, 2022 (Northern Ontario Business):

Wyloo Metals seals the deal in the Ring of Fire

Australian miner tables a socio-economic and green agenda to benefit Indigenous business and deliver a net-zero mine

The Ring of Fire’s newest player contends it will “set a new global benchmark in sustainable mining” in Ontario’s Far North. Read more here…

April 8, 2022 (Northern Ontario Business):

With an election in sight, Doug Ford once again ready to hop on the Ring of Fire ‘bulldozer’

Ontario premier appears in the Sault to charge up Algoma Steel and the critical minerals mining industry

Premier Doug Ford didn’t back down from his government’s commitment to invest in the development of a north-south road network into the Ring of Fire. Read more here…

April 9, 2022 (Sudbury.com):

Federal budget has welcome news for Canadian mining exploration for critical minerals

New budget proposes a 30 per cent tax credit for minerals tied to new battery electric vehicles

The new federal budget presented this past week has some  welcome nuggets for the mining exploration industry. Read more here…

April 9, 2022 (The Sault Star):

Wyloo Metals finishes takeover of Noront Resources

Noront Resources is now a wholly-owned subsidiary of Wyloo Metals. Read more here…

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