The proposed Future Metals Hub will be developed in consultation with regional stakeholders and First Nations communities to create battery material supply chain capabilities that maximize and retain the value generated from resource development within Ontario.
This announcement follows Wyloo Metals’ statement on Tuesday May 25, 2021 regarding its intention to make an offer to acquire all of the outstanding common shares of Noront Resources Ltd. (TSXV:NOT) (“Noront”) that it does not currently own.
Through the Future Metals Hub, Wyloo Metals intends to invest directly into local businesses, create training and employment pathways, and support world-leading sustainable mining technology. It will be centered on the following key commitments:
Head of Wyloo Metals, Luca Giacovazzi, said the commitments reinforce Wyloo Metals’ belief in Canada’s long-term potential to be a globally relevant producer of reliable and responsibly sourced battery metals.
“These commitments, alongside our recent offer for Noront Resources, reflect Wyloo Metals’ strategy of long-term investment into Canada” Mr Giacovazzi said.
“Canada has a once-in-a-generation opportunity to establish itself as a major player in the new economy. Our proposed Future Metals Hub provides the cornerstone for a globally relevant battery material supply chain in Canada, while creating economic opportunities for local communities to thrive.”
Wyloo Metals is the metals and mining subsidiary of Tattarang, one of Australia’s largest private investment groups. Led by a multidisciplinary team of geologists, engineers and financial professionals, Wyloo Metals manages a diverse portfolio of exploration and development projects and cornerstone interests in a number of public and private companies. Wyloo Metals seeks to work closely with all stakeholders to accelerate projects through the development cycle while meeting the highest international environmental, social and governance standards. See more at: www.wyloometals.com.
Some of the statements in this press release may be forward looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties, including the successful completion of Wyloo Metals acquisition of Noront. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. Wyloo Metals does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated status of such statements. Therefore in no case whatsoever will Wyloo Metals and its affiliate companies be liable to anyone for any decision made or action take in connection with the information and/or statements in this press release or for any related damages.