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Generation Mining receives environmental approval for its Marathon palladium copper project

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(Kitco News) - Generation Mining (TSX: GENM) announced Wednesday that the Marathon palladium copper project was approved by the joint Federal and Provincial Environmental Assessment process.

“The Honourable Steven Guilbeault, Federal Minister of Environment and Climate Change, and The Honourable David Piccini, Ontario Minister of the Environment, Conservation and Parks, each announced today that the company’s Marathon project may proceed, subject to conditions set out in the federal decision statement and the provincial approval order, respectively,” the company said in a statement.

Gen Mining noted it will now proceed to obtain the necessary permits for construction and operation, adding it anticipates submitting the permit applications as soon as practicable in order to start preliminary construction activities late in the first quarter of 2023 or as soon as possible thereafter.

The Marathon project involves the construction, operation, decommissioning, and remediation of three open pits to produce copper concentrate, consisting primarily of copper, palladium and platinum, critical minerals, an onsite ore processing facility, a 115 kV transmission line, an access road, a mine rock storage area, a process solids management facility, and a water management system, amongst other infrastructure.

The processing plant will operate at approximately 9.2 million tonnes of ore per year and produce approximately 87,000 tonnes of copper-concentrate annually. The concentrate will be delivered to a third-party facility for further downstream processing into refined critical minerals.

The company said that based on current mineral reserves, over its planned 13-year mine life the Marathon project concentrate is expected to produce 1,905,000 ounces of palladium, 467 million lbs. of copper, 537,000 ounces of platinum, 151,000 ounces of gold and 2,823,000 ounces of silver in payable metals.

Gen Mining also pointed out it continues to work on de-risking and optimizing the Marathon project, making significant progress on detailed engineering and financing.

Importantly, the company said it will continue to work expeditiously to satisfy any pre-construction conditions and ensure compliance with all of the conditions needed to advance construction and operations in a timely manner, as it progresses towards a final investment decision.

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