Noront welcomes new Australian partner - Wyloo Metals

Noront Resources Ltd. is pleased to welcome its new cornerstone security holder Wyloo Metals Pty Ltd.

Wyloo Metals is the mining division of Tattarang, one of Australia’s largest private investment groups. A long-term and collaborative investor supporting the discovery and development of the next generation of mines, Wyloo Metals is led by a multidisciplinary team of geologists, engineers and financial professionals. The company works closely with all stakeholders to accelerate projects through the development cycle while meeting the highest international environmental, social and governance standards.

“We are delighted that Wyloo Metals has chosen to acquire a cornerstone interest in Noront,” said Noront President and CEO Alan Coutts. “It’s exciting to partner with a company whose values parallel our own company principles. Wyloo makes long-term strategic investments in companies that mine responsibly, and that’s a philosophy that aligns very well with the approach Noront is taking as we develop the Ring of Fire in an environmentally responsible manner in collaboration with our First Nation partners.”

Head of Wyloo Metals, Luca Giacovazzi, said the partnership with Noront presents a unique opportunity to join forces with a proven management team in the development of the Eagle’s Nest deposit and the continued exploration of the world-class Ring of Fire region. “This investment reflects a long-term and collaborative strategy to support the discovery and development of the next generation of mines required to meet the growing demand of critical materials needed to power the decarbonisation of the global economy,” Mr. Giacovazzi said.

Wyloo entered into an agreement to acquire the beneficial equity and debt interests previously held by Resource Capital Fund V L.P.

Tags: Northern Ontario / Deals & Financial / Metals / All Articles