Latest news with #EnvironmentalComplianceApproval–IndustrialSewageWorks
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.
