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Noront picks Sault Ste. Marie, Ont., site for ferrochrome production facility
TORONTO – Noront Resources Ltd. says it has chosen the Algoma Steel Inc. site in Sault Ste. Marie, Ont., for its ferrochrome production facility.
The company says it picked the location over a spot in Timmins, Ont.
Noront says Timmins would have had a slightly lower capital cost, but the Sault Ste. Marie option offered a lower operating cost per pound of chrome in ferrochrome.
The company is looking to develop its chromite properties in the so-called Ring of Fire area in northern Ontario.
It says it anticipates a lengthy and comprehensive environmental permitting process with project construction not expected to begin until 2025, based on a preliminary schedule.
Noront says the next step will be to finalize the development plan and timelines for an all-season road to the Ring of Fire.
Companies in this story: (TSXV:NOT)
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