CANADA — Generation Mining Limited has announced a significant boost to its Marathon Copper-Palladium Project in Northwestern Ontario.
The company’s wholly-owned subsidiary, Generation PGM Inc., has been awarded up to $771,000 from the Canadian government’s Critical Minerals Infrastructure Fund (CMIF), pending final due diligence.
This funding, part of Canada’s Critical Minerals Strategy, aims to address infrastructure gaps and facilitate critical mineral production.
For Generation Mining, it represents a crucial step towards advancing the Marathon Project’s transportation infrastructure.
Jamie Levy, President and CEO of Generation Mining, expressed enthusiasm about the development: “Our Marathon Copper-Palladium Project is one of the most advanced projects in Canada. This support will be instrumental in progressing our transportation infrastructure while we continue to secure construction financing.”
The company plans to utilise the funds for engineering and design work, as well as feasibility studies for road and rail links.
These improvements are essential for transporting copper concentrates from the Marathon site to smelters in Canada and Europe.
Specific plans include upgrading a five-kilometre site access road, developing a new four-kilometre access road, and constructing a transload facility for concentrate transfer.
With all federal approvals for construction already in hand and only three outstanding provincial permits expected by year-end, Generation Mining is positioning itself for potential construction activities in 2025.
The Marathon Project, located near the town of Marathon, Ontario, is poised to become a significant producer of palladium and copper.
According to the company’s latest feasibility study, the mine is expected to yield an average of 166,000 ounces of palladium and 41 million pounds of copper annually over a 13-year mine life.
This federal funding comes at a crucial time for Generation Mining, as the company has been working to overcome challenges related to permitting delays and market conditions.
The support from the CMIF not only provides financial assistance but also underscores the project’s importance in Canada’s critical minerals landscape.
As Generation Mining continues to progress towards its goal of developing one of North America’s few undeveloped palladium projects, this federal backing marks a significant milestone in the company’s journey towards production.
