13th October 2011
TORONTO (miningweekly.com) – TSX-V-listed Noront Resources has appointed BHP Billiton’s former Jansen potash project director Ted Bassett to its board, along with China’s Baosteel Resources finance VP Lin Li, it said on Wednesday.
The Ring of Fire-focused firm said Basset had a track record in the supervision of and construction of big mines including BHP Billiton's Olympic Dam expansion in Australia, the Goro nickel project, Vale’s Voisey's Bay nickel mine and the Diavik diamond mine, which Rio Tinto and Harry Winston own.
“Mr. Bassett's unparalleled knowledge in project and construction management will be vital in the coming years as we continue to advance our Eagle's Nest deposit towards commercial production,” Noront CEO Wes Hanson said in a statement.
He added that Li’s knowledge of Asian stainless steel markets would also benefit Noront.
Basosteel, China’s second-biggest steel producer, bought 10% of Noront for C$17-million in May, and has the option to lift this to 17%.
Noront's main asset is the Eagle's Nest nickel/copper/platinum-group elements project, in the Ring of Fire region of Ontario, where it is targeting production by 2016.