The provincial government is allocating $11 million to aid the development of Generation Mining’s new $410 million copper and palladium processing facility near Marathon, Ont.
This funding, announced on Friday, comes from the province’s Critical Minerals Processing Fund.
“Once fully operational, the Marathon Project will create more than 450 new good-paying jobs in addition to the 800 jobs initially supported during the construction phase,” the news release said.
Copper and palladium are essential for various industrial uses like electrification, advanced manufacturing and defense. The processing plant is part of a larger $992 million Marathon Project that features an open-pit copper and palladium mine expected to run for 13 years.
Marathon, Ont., is about 300 kilometres northeast of Thunder Bay. (Sarah Law/CBC)
“As one of the most mineral-rich regions in the world, northern Ontario plays a critical role in supporting the economic objectives and industrial capabilities of Canada and its allies,” said Vic Fedeli, Ontario’s minister of economic development, job creation and trade, in Friday’s release.
“By supporting Generation Mining’s Marathon Project, our government is protecting the resilience and self-reliance of the province’s critical mineral supply chain and delivering on its commitment to keep minerals mined in Ontario processed and refined in Ontario, by our world-class workers.”
About 3,200 people live in Marathon, around 300 kilometres northeast of Thunder Bay. Earlier this summer, Premier Doug Ford announced $2 million to help establish a marine terminal at the Port of Marathon as well as more than $800,000 for improvements at the Port of Thunder Bay.
“[This will allow] these ports [to] increase cargo volumes and ship more local products, including critical minerals from the Ring of Fire, forestry products, grain and potash, as well as components for pipelines and wind turbines to southern Ontario and other provinces around the world,” Ford said.
WATCH | Premier Doug Ford announces $2.8 million for northwestern Ontario ports:
Premier Doug Ford announces $2.8 million for northwestern Ontario ports
The Ontario government is investing over $2.8 million to support infrastructure upgrades at Thunder Bay’s port while also creating a new marine terminal at Marathon’s port. Here’s what was shared at Tuesday’s funding announcement in Thunder Bay.
Jamie Levy, president and chief executive officer of Generation Mining describes Marathon as “one of the most advanced undeveloped copper-palladium projects in North America.”
Generation Mining announced on Monday that it had secured full financing needed to kick off construction on the mine itself.
Stephen Lecce, Ontario’s minister of energy and mines stated that the Marathon Project is vital as the province continues navigating through challenges posed by trade disputes with Canada-U. S., “helping build an end-to-end Made-in-Canada critical minerals supply chain.”
The company hopes early construction will begin later this year.
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