Noront Resources of Toronto has selected Hatch Ltd. and Algoma Steel to facilitate development of mines in the Ring of Fire and the associated. In making the announcement Noront president and CEO Alan Coutts called this a ‘made in Ontario’ collaboration.
Hatch will supply engineering and project support for the Eagle’s Nest and Ring of Fire chrome projects and earn an equity interest in the mines.
Algoma has signed a five-year, renewable option to lease a brownfield property in Sault Ste. Marie for 99 years where a ferrochrome plant will be established. Noront will also issue 750,000 common shares and 750,000 warrants to Algoma.
(This article first appeared in the Canadian Mining Journal)