According to the Wildlands League website, a non-profit conservation group, the number of mining claims in the Ring of Fire has increased by over 28% since September 2022. The claims now cover approximately 626,000 hectares, nearly 10 times the size of the city of Toronto.
As of December 2023, there were 33,074 mining claims in the area according to the Ontario ministry of mines. As of September 2023, Juno Corp., a Toronto based mining company is the largest claim holder with more than 17,000 mining claims covering approximately 333,000 hectares. The company holds exploration drilling permits at two sites.
Wyloo, formerly Ring of Fire Metals Ltd., is an Australia-based company that holds more than 10,600 claims. Its Eagle’s Nest project is the most advanced in the area. According to its 2012 feasibility study, the mine will last about 11 years and cost approximately $609 million to build.
Reserves are estimated at 11.1 million tonnes grading 1.68% nickel, 0.87% copper, 0.87 g/t platinum, 3.09-grams palladium, and 0.18-gram gold. The company received a $500,000 grant from the Critical Minerals Innovation Fund to test storing tailings as underground backfill in mine workings.
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