The Ontario government is providing $11 million to support the construction of a new $410-million copper and palladium processing facility near Marathon, Ont.
The funding comes from the province’s Critical Minerals Processing Fund.
The facility is part of Generation Mining’s larger $992-million Marathon Project, which includes an open-pit mine expected to operate for 13 years.
The province says the project could create more than 450 permanent jobs, along with about 800 jobs during construction.
Copper and palladium are used in industries including electric vehicles, advanced manufacturing and defence.
Ontario Economic Development Minister Vic Fedeli said the project will help strengthen the province’s critical minerals supply chain.
The project is also expected to support increased shipping through the Port of Marathon. Earlier this year, the province announced $2 million for a new marine terminal at the port and more than $800,000 for upgrades at the Port of Thunder Bay.
Generation Mining CEO Jamie Levy called the Marathon Project one of the most advanced undeveloped copper-palladium projects in North America.
The company announced Monday that it had secured the financing needed to begin construction of the mine.
Generation Mining hopes to begin early construction work later this year.
