Drilling at the Marathon palladium-copper project in northern Ontario. Generation Mining photo
Generation Mining (TSX: GENM) shares soared to a two-year high on Friday as it spotlighted the strong support given to its Marathon copper-palladium project by the Ontario government.
Located 300 km east of Thunder Bay, northwestern Ontario, Marathon represents Canada’s next shovel-ready critical minerals project after receiving its final construction permit last month. Once in operation, it would be one of North America’s few palladium producers and a key producer of copper. Both metals are essential ingredients in the manufacturing of hybrid and electric vehicles.
Shortly after the permitting milestone, Generation received a letter from an unnamed Canadian financial institution stating its interest in lending up to C$200 million for the Marathon project’s construction.
On Friday, several ministers…
