Wyloo Metals commits to world-class Future Metals Hub in Ontario
May 31 2021 - 6:30AM
As part of its long-term investment strategy in the Ring of Fire,
Wyloo Metals Pty Ltd (“Wyloo Metals”) is committed to developing a
sustainable and world-class Future Metals Hub in Ontario that will
create new industry and employment opportunities across the region.
The proposed Future Metals Hub will be developed in consultation
with regional stakeholders and First Nations communities to create
battery material supply chain capabilities that maximize and retain
the value generated from resource development within Ontario.
This announcement follows Wyloo Metals’ statement on Tuesday,
May 25, 2021 regarding its intention to make an offer to acquire
all of the outstanding common shares of Noront Resources Ltd.
(TSXV:NOT) (“Noront”) that it does not currently own.
Through the Future Metals Hub, Wyloo Metals intends to invest
directly into local businesses, create training and employment
pathways, and support world-leading sustainable mining technology.
It will be centered on the following key commitments:
- Developing Eagle’s Nest as
net zero emissions mine
- Through sustainable processes and
technology, Wyloo Metals intends to minimize its carbon footprint
and environmental impact while lowering overall energy consumption
and improving the efficiency of its operations.
- Wyloo Metals embraces the
consensus of the global scientific community on the importance of
decarbonization and supports the Paris Agreement goal of limiting
global temperature increase to below 2° Celsius.
- Our commitment to achieving net
zero carbon emissions will be achieved through the implementation
of innovative and practical emissions reduction initiatives.
- Committing C$25 million
toward feasibility studies to investigate the potential for battery
material production in Ontario
- Wyloo Metals will investigate the
potential to produce in Ontario the chemical products for the
emerging battery market, creating a local battery materials supply
chain, and the potential construction of a new ferrochrome
plant.
- Exporting a higher-value product
will maximize the proportion of Canada’s precious mineral value
that is retained within the country.
- Targeting C$100 million in
contract awards to First Nations businesses
- Wyloo Metals intends to provide
opportunities for First Nations businesses to further develop their
capabilities and support their participation in the economic
benefits provided by the Ring of Fire development.
- In addition to direct contract
awards, Wyloo Metals intends to assist First Nations businesses
with access to capital and practical support to create further
employment and development opportunities.
- Creating and sustaining
Northern Ontario and First Nations’ employment
opportunities
- Wyloo Metals proposes to establish
a Training and Employment Centre that guarantees employment for
trainees that successfully complete training.
- The Training and Employment Centre
has the potential to empower regional and First Nations communities
by providing skill development and job opportunities, thereby
retaining the employment benefits associated with mining projects
in Northern Ontario.
Head of Wyloo Metals, Luca Giacovazzi, said the commitments
reinforce Wyloo Metals’ belief in Canada’s long-term potential to
be a globally relevant producer of reliable and responsibly sourced
battery metals.
“These commitments, alongside our recent offer for Noront
Resources, reflect Wyloo Metals’ strategy of long-term investment
into Canada,” Mr. Giacovazzi said.
“Canada has a once-in-a-generation opportunity to establish
itself as a major player in the new economy. Our proposed Future
Metals Hub provides the cornerstone for a globally relevant battery
material supply chain in Canada, while creating economic
opportunities for local communities to thrive.”
ABOUT WYLOO METALS
Wyloo Metals is the metals and mining subsidiary of Tattarang,
one of Australia’s largest private investment groups. Led by a
multidisciplinary team of geologists, engineers and financial
professionals, Wyloo Metals manages a diverse portfolio of
exploration and development projects and cornerstone interests in a
number of public and private companies. Wyloo Metals seeks to work
closely with all stakeholders to accelerate projects through the
development cycle while meeting the highest international
environmental, social and governance standards. See more at:
www.wyloometals.com.DISCLAIMER
Some of the statements in this press release may be forward
looking statements or statements of future expectations based on
currently available information. Such statements are naturally
subject to risks and uncertainties, including the successful
completion of Wyloo Metals acquisition of Noront. Factors such as
the development of general economic conditions, future market
conditions, unusual catastrophic loss events, changes in the
capital markets and other circumstances may cause the actual events
or results to be materially different from those anticipated by
such statements. Wyloo Metals does not make any representation or
warranty, express or implied, as to the accuracy, completeness or
updated status of such statements. Therefore in no case whatsoever
will Wyloo Metals and its affiliate companies be liable to anyone
for any decision made or action take in connection with the
information and/or statements in this press release or for any
related damages.
MEDIA
CONTACT: |
AURORA
SPOKESPERSON: |
Andrew Bennett |
David Ellis |
M +61 427 782 503 |
M 416 704 0937 |
P +61 8 6460 4949 |
P 416 907 2126 |
E abennett@tattarang.com |
E davide@aurorastrategy.com |
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