Hatch enters into unique collaboration with Noront Resources to develop Ring of Fire minerals district

Noront Resources (Noront) has announced that it has entered into a Master Services Agreement with Hatch to perform engineering and project support services for the Eagle’s Nest and Ring of Fire chrome projects. As part of this unique collaboration, Hatch will participate as an equity partner with Noront and form an integrated project management and engineering team to manage the development and execution of projects in the Ring of Fire. The announcement was made today by Noront president, Alan Coutts, who also announced that Noront has signed a term sheet with Algoma Steel Inc. (Algoma) that includes an option to enter into a brownfield ground lease agreement related to the design, construction, and operation of Noront’s ferrochrome production facility on Algoma’s property in Sault Ste. Marie, Ontario, Canada.

“Noront is partnering with two Ontario-based industrial and engineering giants to advance Ring of Fire development,” said Mr. Coutts. “This is truly a ‘made in Ontario’ collaboration on one of the most economically and socially important projects our province has seen.”

The Ring of Fire is the name given to the emerging mining district in the James Bay Lowlands region, located 500 kilometers northeast of Thunder Bay in Northern Ontario, Canada. To date, deposits of chromite, nickel-copper-platinum-palladium, and copper-zinc have been found, including Noront’s three advanced development projects. Dozens of other showings have been noted, including those rich in gold, titanium-vanadium, and diamonds.

The Ring of Fire is set to become the next great mining district in Ontario and will create prosperity and opportunity for generations to come. It is for this reason that Noront has acquired over 85 percent of all claims in the district and is working hard with First Nations communities and the government to make this vision a reality.

The company’s first project is a 100 percent-owned, high-grade, nickel, copper, and platinum group element deposit called Eagle’s Nest. It is the largest high-grade nickel discovery in Canada since Voisey’s Bay and the most advanced project in the Ring of Fire. Following closely behind Eagle’s Nest will be the development of the nearby Blackbird chromite mine and a ferrochrome production facility at Algoma in Sault Ste. Marie.

“The Ring of Fire represents a significant opportunity, not only for Noront and Algoma, but also for Northern Ontario and local First Nations. We’re excited to be a part of these transformative projects and committed to partnering with Noront to develop innovative solutions that will bring long-term prosperity to the region,” said Joe Lombard, Hatch’s global managing director of Metals.