Timmins businesses hear optimism for progress on Ring of Fire development

Members of the Timmins business community learned more about the progress on the Eagle’s Nest Project, which is located within the Ring of Fire, north of Thunder Bay.

The Eagle’s Nest Project is an undeveloped nickel sulfide deposit that contains many of the minerals on Canada’s critical minerals list.

Once developed, Eagle’s Nest is expected to produce 15,000 tonnes of nickel per year, but company officials said for that to happen, Indigenous partnerships must be prioritized.

"The Eagle's Nest project is really looking to develop this in concert and with the First Nations of the region in the Mattagami region," said Wyloo CEO Kristan Straub.

"So that's been a fundamental advancement and a fundamental part of our discussions with First Nations."

Wyloo projects production to begin in 2030, but Staub said that’s dependent on the government’s permitting process and the building of infrastructure such as a road.

Straub said the company is currently undertaking a feasibility study to incorporate a number of project changes.

"Like things around water, like things around where the mill or the production facilities would be situated (and) the operating methodologies and modes," said Straub.

Wyloo CEO Kristan Straub shares an update Thursday on the company’s Eagle’s Nest project in the Ring of Fire region during a Timmins Chamber of Commerce 'State of Mining' luncheon. (Lydia Chubak/CTV News Northern Ontario)

"There's been tremendous development in battery electric vehicle technologies that are being incorporated into a revised feasibility study that will be completed around March of 2025."

Indigenous officials with the Mushkegowuk Council appreciate Wyloo’s efforts, but said the province must also demonstrate its commitment to work with Omushkego people.

“We had made an inroad back in Feb. 26 in Toronto when we met with (Premier Doug Ford) and some of the cabinet ministers where he agreed totally to work with us on a conservation critical mineral strategy," said Lawrence Martin, director of lands and resources department at Mushkegowuk Council.

• Download the CTV News app now
• Get local breaking news alerts
• Daily newsletter with the top local stories emailed to your inbox

"He agreed to a treaty roundtable and he agreed to work with us on accessing more federal money for safe drinking water and infrastructure. But then when he assigned it to a minister, those meetings didn't happen thereafter so we've been waiting since February for a meeting."

Straub said the demand for electric vehicle batteries is expected to more than double over the next six years and getting projects like Eagle’s Nest into the development stage are crucial to help meet that demand.