More than 165,000 metres were drilled at the Marathon palladium-copper project to prepare the feasibility study.Earlier this year, Generation Mining filed the first amendment to the environmental impact statement (EIS) for the Marathon palladium-copper project, and on Apr. 16, it filed the second amendment. These filings along with the recently published feasibility study mark the beginning of the joint review process for the project.
The review committee invites public comment on the Marathon project until June 27, 2021. Hearings will then be held over 271 days.
The Marathon project is located near the town of the same name in Northern Ontario. It is the site of a former gold producer. The proposed new mine will produce annual average of 245,000 oz. of palladium equivalent annually over at least 13 years. About 58% of revenues will come from palladium, 26% from copper, and the remainder from platinum, gold and silver.
Initial capital costs are estimated at $665 million. Operating costs will be US$687 per oz. palladium equivalent with an all-in sustaining cost of US4908 per oz. The project is expected to generate 1,000 jobs during construction and 400 permanent jobs.
Access to the EIS documents is available on the Generation’s website, www.GenMining.com, with comments for the panel to be posted at the IAAC site.
April 15, 2024
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