Latest news with #StephenLecce
CTV News
2 days ago
- Business
- CTV News
One of the largest transmission investments in province's history announced in Springwater, Ont.
Paul Markle, CEO of the Barrie Chamber of Commerce stands at the podium alongside Ontario Energy and Mines Minister Stephen Lecce in Springwater, Ont., to announce building two new transmission lines and major transmission upgrades. This plan will ensure the province has the power it needs to meet growing energy demand to build new homes and support economic growth on Fri., June 6, 2025. (CTV NEWS)
CTV News
2 days ago
- Business
- CTV News
Ontario to make Ring of Fire a special economic zone ‘as quickly as possible': Ford
Protesters chant and wave flags during a demonstration outside the Ontario Legislature at Queen's Park in Toronto, Monday, June 2, 2025. THE CANADIAN PRESS/Cole Burston TORONTO — Ontario intends to designate the mineral-rich Ring of Fire as a so-called special economic zone 'as quickly as possible,' Premier Doug Ford said Thursday. Ford said he and several ministers will consult all summer with First Nations about the new law that allows the Ontario government to suspend provincial and municipal rules before making the designation. 'We need to start moving on that,' Ford said of the designation for the Ring of Fire. Last week, Indigenous Affairs Minister Greg Rickford and Energy and Mines Minister Stephen Lecce said they would hold off on making the area a special economic zone until they had consulted with all affect First Nations. The law seeks to speed up the building of large projects, particularly mines. Ford's government has committed $1 billion to develop the Ring of Fire. Three First Nations have signed various agreements with the province to help build roads to the region, as well as develop the area where it connects to the provincial highway system. However, First Nations across Ontario have risen up to protest the province's new law, livid about what what they describe as the government's audacity to strip away any law it sees fit for any project at any time. They say it tramples their treaty rights and ignores their concerns. The First Nations want to be part of development, including mines, but want to be equal partners with the province on the legislative side. They have warned Ford repeatedly that they will take the fight to the courts and to the land. Blockades of highways, railways and mines are on the table this summer, numerous First Nations said. 'This is a once in a generation opportunity for our First Nations communities and I understand some may disagree, but I'll tell you, a lot of them agree,' Ford said. Tensions have been high at the provincial legislature over the past few weeks because of the opposition to the bill. Dozens of First Nations members flew from the far north to Queen's Park to watch the province pass Bill 5, the Protect Ontario by Unleashing Our Economy Act, on Wednesday. Security booted about a dozen of them from the legislature's chambers for raining jeers down upon the politicians as they passed the bill into law. NDP legislator Sol Mamakwa, the representative for Kiiwetinoong where the Ring of Fire is located, was also kicked out earlier this week for saying Ford was 'telling untruths' to First Nations about his government's plans for the Ring of Fire. There is plenty of opposition to the new law in addition to First Nations' concerns. Critics also say the bill guts protections for endangered and threatened species. The legislature rose for its annual summer break and will not return until Oct. 20. This report by The Canadian Press was first published June 5, 2025.
The Market Online
2 days ago
- Business
- The Market Online
Ontario critical minerals project granted priority status
Generation Mining (TSX:GENM) is noting the Province of Ontario's recent appeal to the Federal Government to invest in shovel-ready critical mineral projects key to Canada's supply chain, including the company's flagship Marathon copper-palladium project Marathon is expected to produce over US$6 billion in commodities over its 13-year operating life Generation Mining stock has added 31.48 per cent year-over-year but remains down by 21.11 per cent since 2020 Generation Mining (TSX:GENM) is noting the Province of Ontario's recent appeal to the Federal Government to invest in shovel-ready critical mineral projects key to Canada's supply chain. According to Friday's news release, Ministers Stephen Lecce, Mike Harris and Greg Rickford, and Associate Ministers Kevin Holland and Sam Oosterhoff of Ontario, published an open letter on June 5th to the federal Minister of Energy and Natural Resources, Tim Hodgson, identifying priority projects for Ontario – including Generation's flagship Marathon copper-palladium project – stating that, 'Building on the investments in the Ring of Fire and the critical minerals supply chain we urge the federal government to invest in shovel-ready strategic mineral projects that are critical to building a secure, domestic supply chain.' The 260-square-kilometre Marathon, located in Northwestern Ontario, features a 2025 feasibility study detailing a net present value (6 per cent discount rate) of C$1.07 billion, a payback of only 1.9 years and polymetallic production over a 13-year mine life, including: 2,161,000 ounces of palladium. 532 million pounds of copper. 488,000 ounces of platinum. 160,000 ounces of gold. 3,051,000 ounces of silver. At prices on June 6, Marathon's production represents more than US$6 billion in commodities in the ground, a far cry from Generation's current market capitalization of C$84.17 million. The news follows a letter of support from a Canadian financial institution for a potential C$200 million credit facility to advance Marathon towards production. Leadership insights 'I'd like to thank the Government of Ontario for their strong and ongoing support for the Marathon project. We have maintained a very good relationship with the Federal Government throughout our environmental assessment and permitting process, and we continue to see strong indications of support from federal departments and agencies,' Jamie Levy, Generation Mining's president and chief executive officer, said in a statement. 'Now that we are fully permitted for construction, the last hurdle is bringing together the necessary funding to build our mine and commence production. The Marathon project promises to be a significant contributor to Canada's critical mineral supply chain, as well as the local, regional and national economies. We look forward to bringing this project to fruition with continued encouragement from the provincial and federal governments.' About Generation Mining Generation Mining is advancing towards critical mineral production in Ontario, Canada. Generation Mining stock (TSX:GENM) last traded at C$0.36. The stock has added 31.48 per cent year-over-year but remains down by 21.11 per cent since 2020. Join the discussion: Find out what everybody's saying about this Canadian critical minerals 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.
CTV News
2 days ago
- Business
- CTV News
Ontario to make Ring of Fire a special economic zone ‘as quickly as possible': Ford
Protesters chant and wave flags during a demonstration outside the Ontario Legislature at Queen's Park in Toronto, Monday, June 2, 2025. THE CANADIAN PRESS/Cole Burston TORONTO — Ontario intends to designate the mineral-rich Ring of Fire as a so-called special economic zone 'as quickly as possible,' Premier Doug Ford said Thursday. Ford said he and several ministers will consult all summer with First Nations about the new law that allows the Ontario government to suspend provincial and municipal rules before making the designation. 'We need to start moving on that,' Ford said of the designation for the Ring of Fire. Last week, Indigenous Affairs Minister Greg Rickford and Energy and Mines Minister Stephen Lecce said they would hold off on making the area a special economic zone until they had consulted with all affect First Nations. The law seeks to speed up the building of large projects, particularly mines. Ford's government has committed $1 billion to develop the Ring of Fire. Three First Nations have signed various agreements with the province to help build roads to the region, as well as develop the area where it connects to the provincial highway system. However, First Nations across Ontario have risen up to protest the province's new law, livid about what what they describe as the government's audacity to strip away any law it sees fit for any project at any time. They say it tramples their treaty rights and ignores their concerns. The First Nations want to be part of development, including mines, but want to be equal partners with the province on the legislative side. They have warned Ford repeatedly that they will take the fight to the courts and to the land. Blockades of highways, railways and mines are on the table this summer, numerous First Nations said. 'This is a once in a generation opportunity for our First Nations communities and I understand some may disagree, but I'll tell you, a lot of them agree,' Ford said. Tensions have been high at the provincial legislature over the past few weeks because of the opposition to the bill. Dozens of First Nations members flew from the far north to Queen's Park to watch the province pass Bill 5, the Protect Ontario by Unleashing Our Economy Act, on Wednesday. Security booted about a dozen of them from the legislature's chambers for raining jeers down upon the politicians as they passed the bill into law. NDP legislator Sol Mamakwa, the representative for Kiiwetinoong where the Ring of Fire is located, was also kicked out earlier this week for saying Ford was 'telling untruths' to First Nations about his government's plans for the Ring of Fire. There is plenty of opposition to the new law in addition to First Nations' concerns. Critics also say the bill guts protections for endangered and threatened species. The legislature rose for its annual summer break and will not return until Oct. 20. This report by The Canadian Press was first published June 5, 2025.
Associated Press
2 days ago
- Business
- Associated Press
Province of Ontario identifies Marathon Project as Shovel-Ready Strategic Mineral Project for Investment
TORONTO--(BUSINESS WIRE)--Jun 6, 2025-- Generation Mining Limited (TSX:GENM, OTCQB: GENMF) ( 'Gen Mining' or the 'Company' ) thanks the Province of Ontario for urging the federal government to invest in shovel-ready strategic mineral projects, including our Marathon Copper-Palladium Project (the 'Marathon Project'), that are critical to building a secure domestic supply chain. In connection with the ongoing dialogue between the Province of Ontario, the Government of Canada, and other provincial and territorial governments, on June 5, 2025, Ministers Stephen Lecce, Mike Harris, and Greg Rickford, and Associate Ministers Kevin Holland and Sam Oosterhoff of Ontario, issued an open letter to the federal Minister of Energy and Natural Resources, Tim Hodgson, identifying priority projects for Ontario, and remarked: 'Building on the investments in the Ring of Fire and the critical minerals supply chain we urge the federal government to invest in shovel-ready strategic mineral projects that are critical to building a secure, domestic supply chain including…Generation Mining's Marathon Project.' Jamie Levy, President and CEO, commented: 'I'd like to thank the Government of Ontario for their strong and ongoing support for the Marathon Project. We have maintained a very good relationship with the federal government throughout our environmental assessment and permitting process, and we continue to see strong indications of support from federal departments and agencies. Now that we are fully permitted for construction, the last hurdle is bringing together the necessary funding to build our mine and commence production. The Marathon Project promises to be a significant contributor to Canada's critical mineral supply chain, as well as the local, regional and national economies. We look forward to bringing this project to fruition with continued encouragement from the provincial and federal governments.' 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 fostering a greener future by promoting sustainability, empowering communities, and delivering value to our stakeholders. The Feasibility Study (the 'Technical Report') 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+ 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+ View source version on CONTACT: For further information, please contact:Jamie Levy President and Chief Executive Officer (416) 640-2934 (O) (416) 567-2440 (M) [email protected]@ KEYWORD: NEVADA COLORADO IDAHO ARIZONA AFRICA AUSTRALIA/OCEANIA UNITED STATES CANADA NORTH AMERICA AUSTRALIA INDUSTRY KEYWORD: PUBLIC POLICY/GOVERNMENT NATURAL RESOURCES SUSTAINABILITY ENVIRONMENT STATE/LOCAL GREEN TECHNOLOGY OTHER NATURAL RESOURCES MINING/MINERALS SOURCE: Generation Mining Limited Copyright Business Wire 2025. PUB: 06/06/2025 07:00 AM/DISC: 06/06/2025 06:58 AM
