Generation Mining said it’s shovel ready to build a $1-billion open-pit copper and palladium mine, north of Marathon, once it secures all of its construction financing in the new year.
Company president-CEO Jamie Levy and chair Kerry Knoll delivered a year-end wrap-up on a 6ix webinar, Dec 18, on what’s been accomplished at its Marathon project in 2025 and what’s in store for 2026.
With all its permits in place, the company executives said they expect to make a major announcement in early 2026 to put the funds in place to proceed with development of the mine, price-tagged at $992 million. The main deposit is located 10 kilometres north of the community on Lake Superior.
A construction decision hasn’t been officially made, but Generation Mining expects to make one by late 2026, followed by a two-year build that points toward a mine commissioning by the summer of 2028.
The Toronto company snagged its final permit in May.
