Published: December 2, 2022 |

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Generation Mining Limited said its Marathon Palladium Copper Project was approved by the joint Federal and Provincial Environmental Assessment process. The company will now proceed to obtain the necessary permits for construction and operation.

The Honourable Steven Guilbeault, Federal Minister of Environment and Climate Change, and The Honourable David Piccini, Ontario Minister of the Environment, Conservation and Parks, each said the company’s Marathon Project may proceed, subject to conditions set out in the federal decision statement and the provincial approval order, respectively.

The Marathon Project involves the construction, operation, decommissioning, and remediation of three open pits to produce copper concentrate, consisting primarily of copper, palladium and platinum, critical minerals, an onsite ore processing facility, a 115 kV transmission line, an access road, a mine rock storage area, a process solids management facility, and a water management system, amongst other infrastructure.

The processing plant will operate at approximately 9.2 million tonnes of ore per year and produce approximately 87,000 tonnes of copper-concentrate annually. The concentrate will be delivered to a third-party facility for further downstream processing into refined critical minerals. Based on current mineral reserves, over its planned 13-year mine life the Marathon Project concentrate is expected to produce 1,905,000 ounces of palladium, 467 million lbs. of copper, 537,000 ounces of platinum, 151,000 ounces of gold and 2,823,000 ounces of silver in payable metals.

“This is a great day for Generation Mining shareholders and critical minerals production in Canada. These government decisions validate the work done to date to develop the Marathon Project as a sustainable, environmentally sensitive, low-cost producer of critical metals that are needed to support emissions controls and the transition to a greener economy. The receipt of the decision statement and approval Oorder, respectively, are significant milestones as we advance the Marathon Project into production. This provides much needed certainty about the future and development of this strategic asset,” said Jamie Levy, president and CEO.

“We would like to thank Biigtigong Nishnaabeg and the Town of Marathon for their support, along with the representatives of other regional municipalities and Indigenous communities, the public, the responsible federal and provincial government agencies, and our team of employees and advisors for their significant contributions to the joint review panel environmental assessment process,” added Levy.

“We are extremely proud to be the first mine in Ontario to be approved through this process. Receipt of the decision statement and approval order enables us to apply for the permits necessary for the construction and operation of the Marathon Project,” concluded Levy.

The decision statement and approval order were made following a thorough, multi-year, joint federal and provincial environmental assessment process, with input received from Indigenous groups, the public, federal government departments including the Ministry of Environment Canada and Climate Change, Fisheries and Oceans Canada, Natural Resources Canada and Transport Canada, and provincial government departments including Ministry of Northern Development, Mines, Natural Resources and Forestry, the Ministry of Environment, Conservation and Parks, the Ministry of Transportation, the Ministry of Labour, and the Technical Standards and Safety Authority.

Gen Mining continues to work on de-risking and optimizing the Marathon Project, making significant progress on detailed engineering and financing. The decision statement and approval order included conditions on such matters as ongoing consultation, follow-up programs, reporting, information sharing, fish and fish habitat, migratory birds, wildlife, greenhouse gas emissions, health and socio-economic conditions of Indigenous peoples, the current use of lands and resources for traditional purposes, and reclamation, among other things. The company will continue to work expeditiously to satisfy any pre-construction condition(s) and ensure compliance with all of the conditions needed to advance construction and operations in a timely manner, as it progresses towards a final investment decision.

About Generation Mining
Gen Mining’s focus is the development of the Marathon Project, a large undeveloped platinum group metal mineral deposit in Northwestern Ontario. The company released the results of the feasibility study on March 3, 2021 and published the NI43-101 Technical Report dated March 25, 2021. The Marathon property covers a land package of approximately 22,000 hectares, or 220 square kilometers.

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