Ring of Fire Metals, Wyloo Metals and Mincor Resources will unify under the brand name Wyloo, becoming the largest pure-play nickel company outside of Russia.
With the completion of WA mining magnate Andrew Forrest’s acquisition of Mincor Resources last month by Wyloo Metals, the company is now producing high-grade nickel sulphide from its newly-owned mine in Kambalda, WA.
Wyloo’s Canadian subsidiary, formerly Ring of Fire Metals, also brings the high-grade Eagle’s Nest project to the table, the only material chromite resource in North America.
Wyloo chief executive officer Luca Giacovazzi said the combined company was unique in its significant nickel production and strong pipeline of growth projects that will produce nickel for at least the next two decades.
“We are now producing around 15,000 tonnes of nickel from our mines in Western Australia which, together with our Eagle’s Nest project in Ontario, will ensure we remain a significant nickel producer for at least 20 years,” he said.
Giacovazzi said now was the right time to bring all three companies together under one banner.
“After the rapid growth we’ve experienced during the past two years, we wanted to bring all of our companies together under one name to reflect our unique position in the market and the synergies we will achieve as one team,” he said.
“Our vision is to unearth critical minerals, innovate how we mine and process them and sustain the planet for future generations.
“When people think of the cleanest, high-grade nickel sulphide in the tier-one jurisdictions of Australia and Canada they will think of Wyloo.”
Wyloo Metals’ $760 million takeover bid for Mincor was first launched on March 21 2023.
A rocky start for the acquisition was soon settled and the Kambalda mine is now running at capacity.