The price tag to build a new mine near Marathon has escalated, but Generation Mining is primed and ready to start construction pending the arrival of key government permits.
The Toronto mine builder released a positive feasibility study for its $1.1-billion Marathon palladium and copper project, located about 10 kilometres inland from the town on the north shore of Lake Superior.
The feasibility study is an update from an earlier one released in March 2021, but with the rising cost of inflation factored in. The company has tweaked and fine-tuned a few things in the project design and factored in the results of almost 19,000 metres of diamond drilling at the deposit.
A feasibility study is a final, detailed economic study assessing whether a deposit can be mined profitably.
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