The Canadian Press - ONLINE EDITION

Noront Resources buys exploration camp in Ring of Fire from Cliffs

  • Print

TORONTO - Junior mining company Noront Resources Ltd. (TSXV:NOT) says it has reached a deal to buy an exploration camp from Cliffs Chromite Ontario Inc. in the Ring of Fire region of Ontario.

The agreement with the affiliate of U.S-based Cliffs Natural Resources Inc. was made for an undisclosed amount and will give Noront the camp at McFaulds Lake, about 500 kilometres northeast of Thunder Bay, Ont.

The location is adjacent to its Noront's Esker Camp and will be used as a construction base for the development of the Eagle's Nest mine, it said.

The acquisition is targeted to close in the third quarter.

Noront also received approval for a mining lease application for its Eagle's Nest and Blackbird projects that gives it the ability to extract minerals for 21 years.

The Ring of Fire is believed to contain one of the largest deposits of chromite in the world, a key ingredient in the making of stainless steel. However, the development of the area has faced some challenges, including the lack of a transportation route.

Cliffs suspended its operations in the region indefinitely last year, saying it couldn't keep spending money while the question of whether it would be able to build an all-weather road to the remote site remained in doubt.

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Key of Bart - Take It Easy

View more like this

Photo Store Gallery

  • A gosling stares near water at Omands Creek Park-See Bryksa 30 day goose challenge- Day 25– June 21, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)
  • horse in sunset - marc gallant

View More Gallery Photos

Poll

Will higher pork prices change your grocery-shopping habits?

View Results

View Related Story

Ads by Google