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(Kitco News) - Wyloo Metals latest acquisition will fundamentally change the company, said CEO Luca Giacovazzi.
Last week Giacovazzi spoke to Kitco.
In the spring Wyloo announced it was acquiring Mincor Resources, which is focused on the Kambalda district of Western Australia.
"It's quite transformational for us," said. "We've gone from being an investor in the nickel space to being a project developer."
Wyloo has been amassing a lot of assets. In 2021 Wyloo out-bid the world's large integrated miner by market capitalization, BHP Billiton, for Noront Resources in a deal valued at C$616.9 million (US$455.28 million). The acquisition was completed in the spring. The acquired business was renamed Ring of Fire Metals.
Wyloo is privately-held. The company is controlled by Andrew Forrest, the Australian billionaire who founded and chairs Fortescue Metals Group.
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