OTCPK:NOSOF - Post by User
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wheelsonthebusson Dec 23, 2021 4:40pm
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Globe and Mail reports
Globe and Mail reportsThe Globe and Mail reports in its Thursday, Dec. 23, edition that Noront Resources acquirer Wyloo Metals hopes to have a large nickel mine in operation in the Ring of Fire, and an access road built into the remote minerals district in Northern Ontario, within five years. The Globe's Niall McGee writes that Wyloo Metals head Luca Giacovazzi says: "Eagle's Nest is a high-grade nickel sulphides deposit, which are not only very scarce, but are particularly well-suited to producing Class 1 battery-grade nickel. There is an incredible opportunity for Canada, and Ontario in particular, to reclaim its position as a key jurisdiction to global vehicle manufacturing through the supply of critical minerals to support the further growth of EV production." Mr. Giacovazzi said a "rough" estimate of when an access road into the region, and a mine, could begin construction is 2024, and both could be completed in 2026. Getting over the finish line in the Ring of Fire, however, will require Wyloo to overcome steep hurdles. Cut off from both the provincial highway network and the electricity grid, the region in the James Bay Lowlands in Ontario's Far North requires billions in investment from Wyloo.