Noront Resources is focused on developing resources in a responsible way that will be essential to a decarbonized future. Several minerals are needed for clean energy and we are well-positioned to respond with chromium, nickel, platinum, palladium and copper, all of which are critical elements for realizing a low-carbon future.
Eagle’s Nest, Blackbird and Black Thor
Noront currently has three near-term development projects in Ontario:
- We hold a 100% interest in Eagle’s Nest, one of the largest, undeveloped, high-grade nickel sulphide deposits in the world. Eagle’s Nest has positive project economics and is supported by an independent feasibility study.
- Our 100% owned Blackbird chromite discovery is located less than 1 km from Eagle’s Nest. It is a significant global chromite resource and part of the Ring of Fire chromite discoveries located in the James Bay Lowlands region of Northern Ontario.
- Our 100% owned Black Thor chromite deposit is located 8 km to the northeast of Eagle’s Nest and is the largest chromite discovery in the Ring of Fire.
Our goal is to establish commercial production at Eagle’s Nest three years following permitting, and to use the estimated $150 to $200 million in annual cash flow to develop our chromite assets and fund future exploration in the Ring of Fire. This development will be done in true partnership with local First Nations, contractors, suppliers and communities of Northern Ontario.
Ferrochrome Production Facility
Noront has a vast resource of chromite in the Ring of Fire in Northwestern Ontario and is planning to mine this chromite and build a Ferrochrome Production Facility (FPF) to process it. Noront has partnered with Algoma Steel on the use of a brownfield site and associated logistical support in Sault Ste. Marie, Ontario. We have established a Master Services Agreement with Hatch to support development of the chromite business. Our FPF will be an expandable ferrochrome smelting facility that receives ore/concentrate from our Ring of Fire chromite mines and produces ferrochrome for the North American stainless-steel market.