- Generation Mining (TSX:GENM) has received approval from the federal government for amendments to its Marathon Palladium-Copper Project in Ontario
- The approval will allow for the construction of water management structures and infrastructure operations for the project
- The regulatory amendments mean the company is close to having one of the only permitted copper and PGM projects in North America that can be brought into operation once financing is obtained
- Shares of Generation Mining are up 9.62 per cent to C$0.28 as of 1:26 pm ET
Generation Mining (TSX:GENM) has received approval from the federal government for amendments to its Marathon Palladium-Copper Project in Ontario.
In a news release, the company stated the approval will allow for the construction of water management structures and infrastructure operations for the project.
The regulatory amendments mean the company is close to having one of the only permitted copper and PGM projects in North America that can be brought into operation once financing is obtained.
“The Marathon Project is one of the most advanced critical mineral projects in Canada, and this government approval represents another milestone on the path to developing Canada’s next copper and palladium mine,” Jamie Levy, CEO of Generation Mining, said in a statement.“ The Marathon Project will support the economic growth and competitiveness of Canada and Ontario, as well as provide socio-economic benefits for Indigenous and local communities. The company is proud to be part of this generational opportunity for Canada’s economy and net-zero future.”
Generation Mining added that the last remaining provincial and federal approvals and permits needed for construction will arrive in the coming months.
Generation Mining’s focus is the development of its 100-per-cent-owned Marathon Project, a large undeveloped palladium-copper deposit in northwestern Ontario. The project spans an area of 26,000 hectares.
Shares of Generation Mining are up 9.62 per cent to C$0.28 as of 1:26 pm ET.
Join the discussion: Find out what everybody’s saying about this stock on the Generation Mining Ltd. Bullboard investor discussion forum, 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.
(Top image: Adobe Stock)