Latest news with #ECA-ISW
Yahoo
23-05-2025
- Business
- Yahoo
Generation Mining receives final permit for Marathon Copper-Palladium Project in Canada
Generation Mining has announced that the final construction permit for the Marathon Copper-Palladium Project in Canada has been granted. The Environmental Compliance Approval – Industrial Sewage Works (ECA-ISW) permit is the last of the necessary approvals required to begin construction on what is set to become Canada's next major critical mineral venture. The permit from the Ontario Ministry of Environment, Conservation and Parks paves the way for water management and discharge during the construction phase of the Marathon Project. Generation Mining president and CEO Jamie Levy said: 'With this final permit, Generation believes that the Marathon Project will be a major step forward in securing domestic supplies of copper and palladium – essential elements for clean energy and advanced technologies. 'The completion of construction permitting was one of our key objectives for this year, and securing construction financing is now the final milestone to be able to move the Marathon Project forward. With a shovel-ready plan and strong community support, the Marathon Project has the potential to deliver critical minerals, create skilled jobs and strengthen the Canadian supply chain for a more resilient future.' Located along the Trans-Canada Highway in north-western Ontario, the project is expected to yield 3.6 million ounces (moz) of palladium equivalent (PdEq) over its 13-year lifespan. The Marathon Project will involve the construction, operation and eventual decommissioning of three open pits that will produce copper concentrate that includes copper, palladium and platinum – minerals critical to various industries. Generation Mining vice-president of sustainability Ruben Wallin said: 'The receipt of the ECA-ISW marks the completion of the construction phase approvals process for the project. The company greatly appreciates the indigenous communities, the town of Marathon, and the federal and provincial government agencies that were involved in the process over the past five years. 'The company would also like to recognise the hard work and dedication of our employees and consultants, present and past, in achieving this significant milestone for the project.' In March, Generation Mining secured permits from the Ontario Ministry of Natural Resources (MNR) to begin construction. The MNR had 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 receives final permit for Marathon Copper-Palladium Project in Canada" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Market Online
22-05-2025
- Business
- The Market Online
Ontario copper-palladium mine granted final construction permit
Generation Mining (TSX:GENM) received the final construction permit required to break ground on its 26,000-hectare Marathon copper-palladium project in Northwestern Ontario The project's net present value stands at C$1.07 billion Generation Mining is advancing towards critical metals production in Ontario, Canada Generation Mining stock is up by 34.04 per cent on the news trading at C$0.32 as of 9:37 am ET Generation Mining (TSX:GENM) received the final construction permit required to break ground on its 26,000-hectare Marathon copper-palladium project in Northwestern Ontario. The Environmental Compliance Approval – Industrial Sewage Works (ECA-ISW), granted by the Ontario Ministry of Environment, Conservation and Parks, dictates water management during the project's construction phase. The Marathon property delivered a 2025 feasibility study detailing an after-tax net present value of C$1.07 billion and a payback period of only 1.9 years based on 3-year trailing average metal prices as of November 1, 2024. The mine is expected to produce 2,161,000 ounces of palladium, 532 million pounds of copper, 488,000 ounces of platinum, 160,000 ounces of gold and 3,051,000 ounces of silver over a 13-year operating life. Management will now focus on raising about C$1 billion in initial capital required to reach production. Leadership insights 'With this final permit, Generation believes that the Marathon project will be a major step forward in securing domestic supplies of copper and palladium – essential elements for clean energy and advanced technologies,' Jamie Levy, president and chief executive officer of Generation Mining, said in a statement. 'The completion of construction permitting was one of our key objectives for this year, and securing construction financing is now the final milestone to be able to move the Marathon project forward. With a shovel-ready plan and strong community support, the Marathon project has the potential to deliver critical minerals, create skilled jobs and strengthen the Canadian supply chain for a more resilient future.' 'The receipt of the ECA-ISW marks the completion of the construction phase approvals process for the project. The company greatly appreciates the Indigenous communities, the Town of Marathon and the federal and provincial government agencies that were involved in the process over the past 5 years,' added Ruben Wallin, Generation Mining's vice president of sustainability. 'The company would also like to recognize the hard work and dedication of our employees and consultants, present and past, in achieving this significant milestone for the project.' About Generation Mining Generation Mining is advancing towards critical metals production in Ontario, Canada. Generation Mining stock (TSX:GENM) is up by 34.04 per cent on the news trading at C$0.32 as of 9:37 am ET. The stock has added 12.50 per cent year-over-year but remains down by 30 per cent since 2020. Join the discussion: Find out what everybody's saying about this Canadian copper and palladium stock on the Generation Mining Ltd. Bullboard and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Business Wire
22-05-2025
- Business
- Business Wire
Final Construction Permit Received for Marathon Project – Canada's Next Major Shovel-Ready Critical Mineral Project
TORONTO--(BUSINESS WIRE)--Generation Mining Limited (TSX:GENM, OTCQB: GENMF) ("Gen Mining" or the "Company") is pleased to announce that it has received the final key permit required for the construction of the Marathon Copper-Palladium Project ('Marathon Project') in Northwestern Ontario. The Environmental Compliance Approval – Industrial Sewage Works (ECA-ISW) has been received from the Ontario Ministry of Environment, Conservation and Parks for the management and discharge of water for the construction phase of the Marathon Project. The receipt of the ECA-ISW marks the completion of the construction phase approvals process for the Project. Jamie Levy, President and CEO of Generation Mining, commented, 'With this final permit, Generation believes that the Marathon Project will be a major step forward in securing domestic supplies of copper and palladium – essential elements for clean energy and advanced technologies. The completion of construction permitting was one of our key objectives for this year, and securing construction financing is now the final milestone to be able to move the Marathon Project forward. With a shovel-ready plan and strong community support, the Marathon Project has the potential to deliver critical minerals, create skilled jobs and strengthen the Canadian supply chain for a more resilient future.' Ruben Wallin, Vice President Sustainability, noted 'The receipt of the ECA-ISW marks the completion of the construction phase approvals process for the Project. The Company greatly appreciates the Indigenous communities, the Town of Marathon, and the federal and provincial government agencies that were involved in the process over the past 5 years. The Company would also like to recognize the hard work and dedication of our employees and consultants, present and past, in achieving this significant milestone for the Project.' About the Company Gen Mining's focus is the development of the Marathon Project, a large undeveloped copper-palladium deposit in Northwestern Ontario. The Marathon Property covers a land package of approximately 26,000 hectares, or 260 square kilometers. Gen Mining is dedicated to producing critical minerals for a greener future by promoting sustainability, empowering communities, and delivering value to our stakeholders. The most recent Feasibility Study (the 'Technical Report') for the Marathon Project estimated a Net Present Value (using a 6% discount rate) of C$1.07 billion, an Internal Rate of Return of 28%, and a 1.9-year payback based on the 3-yr trailing average metal prices at the effective date of the Technical Report. Over the anticipated 13-year mine life, the Marathon Project is expected to produce 2,161,000 ounces of palladium, 532 million lbs of copper, 488,000 ounces of platinum, 160,000 ounces of gold and 3,051,000 ounces of silver in payable metals. For more information, please review the Feasibility Study filed under the Company's profile at or on the Company's website at Qualified Person The scientific and technical content of this news release has been reviewed and approved by Daniel Janusauskas, Technical Services Manager of Generation PGM Inc., a wholly-owned subsidiary of the Company, and a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 Standards of Disclosure for Mineral Projects. Forward-Looking Information This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as "forward-looking statements"). Forward-looking statements reflect current expectations or beliefs regarding future events or the Company's future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects', 'predicts', 'intends', 'anticipates', 'targets' or 'believes', or variations of, or the negatives of, such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'should', 'might' or 'will' be taken, occur or be achieved, including statements relating to projected capital and operating costs (including the AISC); the timing and volume of payable metal production and revenues; and the economic analysis and results (including NPVs and payback periods).expand or alter potential mine pit designs; and the anticipated life of mine; mineral production estimates, payback period, and financial returns from the Marathon Project. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include the timing for a construction decision; the progress of development at the Marathon Project, including progress of project expenditures and contracting processes, the Company's plans and expectations with respect to liquidity management, continued availability of capital and financing, the future prices of palladium, copper and other commodities, permitting timelines, exchange rates and currency fluctuations, increases in costs, requirements for additional capital, and the Company's decisions with respect to capital allocation, and the impact of COVID-19, inflation, global supply chain disruptions, global conflicts, including the wars in Ukraine and Israel, the project schedule for the Marathon Project, key inputs, staffing and contractors, continued availability of capital and financing, uncertainties involved in interpreting geological data and the accuracy of mineral reserve and resource estimates, environmental compliance and changes in environmental legislation and regulation, the Company's relationships with Indigenous communities, results from planned exploration and drilling activities, local access conditions for drilling, and general economic, market or business conditions, as well as those risk factors set out in the Company's annual information form for the year ended December 31, 2024, and in the continuous disclosure documents filed by the Company on SEDAR+ at Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. For more information on the Company, investors are encouraged to review the Company's public filings on SEDAR+ at
