Battle to acquire Noront Resources heats up in the Ring of Fire as second bidder enters picture – BayToday.ca

International miner BHP enters the picture against Wyloo Metals with rival bid for Far North nickel and chromite properties

Wyloo Metals faces some strong competition from a rival Australian mining company for the right to acquire Noront Resources and the leading mine project in the Ring of Fire.

Melbourne’s BHP is making a $325-million cash offer to take over all of the issued and outstanding common shares of Noront for $0.55 per share.

The offer is coming through BHP Lonsdale, a BHP subsidiary company and owner of 3.7 per cent of Noront shares.

Read More: https://www.baytoday.ca/local-news/battle-to-acquire-noront-resources-heats-up-in-the-ring-of-fire-as-second-bidder-enters-picture-4164580