Generation Mining said it has received a key approval, the greenlight of amendments to Schedule Two of its Metal and Diamond Mining Effluent Regulations, for its Marathon palladium-copper project in Ontario, Canada.
The new approval, it confirmed on July 31, allows for the construction of the operation’s water management structures and also permits operation of key infrastructure. The approval was signed off by the Governor in Council on the recommendation of the federal Minister of Environment and Climate Change.
Receipt of the few remaining provincial and federal approvals and permits required for construction is expected in the coming months.
The mine is expected to produce an average of 166,000 ounces of payable palladium and 41 million pounds of payable copper per year over a 13-year mine life. Over its life, the Marathon project is anticipated to produce 2.12 million oz. of palladium, 517 million lb. of copper, 485,000 oz. of platinum, 158,000 oz. of gold and 3,156,000 oz. of silver in payable metals.
“We are now on the cusp of having one of the only permitted copper and PGM projects in North America that can be constructed and brought into operation once we obtain the requisite financing,” President and CEO Jamie Levy said.
“Marathon…is one of the most advanced critical mineral projects in Canada, and this government approval represents another milestone on the path to developing Canada’s next copper and palladium mine. The company is proud to be part of this generational opportunity for Canada’s economy and net-zero future.”
Generation Mining owns a 100% interest in the Marathon project.
Source: Generation Mining
