The end of the article is very interesting. Looks like Forrest using Noront as a chip. Seems like the bigger game being played is leverage either for JVs in Western Australia or just flips with royalties. I'm not smart enough to see the endgame but BHP exiting oil and needing nickel feed in Western Australia is their feet to the fire. Maybe BHP is playing the same game on Glencore and Vale:

"Dr Forrest is positioning himself as a king-maker in any consolidation of nickel producers in Western Australia who supply BHP’s resurgent and growing Nickel West business.

It emerged on Friday that Wyloo had accumulated a 5.23 per cent stake in nickel producer Western Areas that is already in the takeover sights of IGO Limited.

Wyloo and Dr Forrest’s private investment juggernaut Tattarang already have strategic stakes at least three other WA nickel companies.

Wyloo started buying Western Areas shares in March and until last Friday had spent $38 million on its stake."