Marathon copper/palladium mine gets govt backing
Toronto-listed project developer Generation Mining has been awarded C$771 000 from the Critical Minerals Infrastructure Fund (CMIF) for the Marathon copper/palladium project, in Ontario.
The CMIF is a programme under the Canadian Critical Minerals Strategy to address infrastructure gaps, enable critical minerals production and connect resources to markets through various clean energy, electrification and transportation infrastructure projects.
Generation Mining president and CEO Jamie Levy said that the funding would be used to advance work on transportation infrastructure while continuing to work towards securing construction financing.
“With all federal approvals for construction having been obtained, and only three outstanding provincial permits expected to be granted by year-end, the work undertaken with this funding could support construction activities in 2025.”
Generation is planning to complete engineering and design work and feasibility studies for road and rail links to support the movement of copper concentrates from their mining project located near Marathon to smelters in Canada and Europe. As part of this work, the company intends to upgrade the 5-km site access road, and develop a new 4-km access road and a transload facility to transfer concentrates.
The Marathon mine is expected to produce an average of 166 000 oz/y of payable palladium and 41-million pounds of payable copper a year over a 13-year mine life.
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