THUNDER BAY — Australia-based Wyloo Metals has chosen Ring of Fire Metals as the new name for Noront Resources, the mining company it acquired earlier this year.
Wyloo CEO Luca Giacovazzi says the name and branding was chosen to reflect the unique culture of the organization, while paying homage to its Canadian roots and the region's history.
"We highly value the rich history associated with the Ring of Fire region, the importance of the region to Canada's critical minerals future, and all that Noront Resources had achieved before we came on board," he said.
Giacovazzi visited Thunder Bay in March, just as Wyloo's takeover of Noront was being finalized.
In a statement Tuesday, he said the company feels strongly about growing Ring of Fire Metals to deliver jobs, business opportunities, and economic development for Indigenous communities, Ontario and Canada.
"Ontario has a once-in-a-generation opportunity to become a world-leading hub for the production of critical minerals the world needs to de-carbonize, and we want to play our part in connecting the minerals in the north with the manufacturing might in the south."
The announcement of the new name coincides with the resumption of activity at the Eagle's Nest project in the Ring of Fire, as well as broader exploration work in the region.
Acting Ring of Fire Metals CEO Stephen Flewelling said "Eagle's Nest is one of the highest-grade nickel-copper-platinum-palladium deposits in the world, and we're also very excited about the potential of our other mineral opportunities across the Ring of Fire region."
The company is currently drilling to gather detailed structural data at Eagle's Nest so it can finalize infrastructure planning for the mine's development.
"In parallel, we are refreshing the Eagle's Nest mining, metallurgical and infrastructure studies and assessing how our operations can be tied into Ontario's first battery metals plant," Flewelling said.
He added that the company intends to keep the site open year-round, with the next milestone for exploration being to finalize the scope of the winter exploration campaign.
The Esker site is the base for project and exploration teams located near the Eagle's Nest deposit.
It recently reopened after closing in September of 2021.
The company has hired 44 new site-based employees and contractors, about half of whom are from First Nation communities including Webequie, Marten Falls, Aroland, Neskantaga, Attawapiskat and others, it said.
The site is currently undergoing significant upgrades such as improved office and building facilities, IT infrastructure and internet access.
