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(Kitco News) - Ring Of Fire Metals CEO Kristan Straub explained why Noront Resources Eagle's Nest project is so unique.
In March Straub spoke to correspondent Paul Harris at PDAC 2023.
The Eagle’s Nest project is a high-grade nickel, copper and platinum group element (PGE) deposit, located in the James Bay Lowlands of Northern Ontario. In April 2022, Wyloo Metals, an Australia-based company run by mining magnate Andrew Forrest, acquired Noront after beating out BHP Billiton in the bidding war. BHP is the world's largest diversified miner by market cap.
Wyloo ended up paying $478.11 million for Noront. Ring Of Fire Metals became the name of the company that was formed by Wyloo to develop the Eagle's Nest asset.
Straub said the project is exceptional.
"Eagle's Nest represents one of the highest-grade largest nickel sulfide deposits in the world today," said Straub.
Nickel is a critical metal, an important element needed to make lithium-ion batteries.
Beyond Eagle's Nest, Straub is excited about the whole region where his company is situated.
"It represents one of Canada's newest regions for exploration and potential development," said Straub.
