Generation Mining has secured the final construction permit from the Ontario Ministry of Natural Resources (MNR) for its 100%-owned Marathon copper-palladium project in north-western Ontario, Canada.
The Ontario MNR granted all three outstanding approvals for infrastructure construction related to the water management structures at the project under the Lakes and Rivers Improvement Act.
Generation Mining president and CEO Jamie Levy said: “These further LRIA [Lakes and Rivers Improvement Act] approvals from the Government of Ontario demonstrate the continued advances we are making to bring the Marathon Project to fruition.
“We remain committed to working closely with all regulatory bodies to ensure the highest standards of environmental and social responsibility in the construction and operation of the Marathon Project. With just one outstanding approval to be obtained from the Government of Ontario, we are closer than ever to being fully permitted and ready for construction.”
The Marathon copper-palladium project is estimated to produce a total of 3.6 million ounces (moz) of palladium-equivalent over its existing 13-year mine life.
The project includes the construction, operation, decommissioning and remediation of three open pits to produce copper concentrate, consisting primarily of copper, palladium and platinum.
Other infrastructure includes an access road, a mine rock storage area, a 115kV transmission line, an onsite ore processing plant, a process solids management facility and a water management system.
The feasibility study projected a net present value of C$1.16bn ($805m), an internal rate of return of 25.8% and a 2.3-year payback.
Over its mine life, the project is expected to produce 2.12moz of palladium, 517 million pounds (mlb) of copper, 485,000oz of platinum, 158,000oz of gold and 3.15moz of silver in payable metals.
Generation Mining is working on securing an Environmental Compliance Approval – Industrial Sewage Works (ECA-ISW) for water discharge at the Marathon project site from the Ministry of Environment, Conservation and Parks.
Once this final provincial approval is secured, the Marathon project will have all essential permits for construction.
In 2023, Generation Mining signed an offtake term sheet with Glencore International to supply copper concentrate from its Marathon project.
