The board of Marathon announced in September a formal decision to proceed with construction of the Valentine project. It issued a new cost to completion figure of C$470 million to C$490 million ($340-356m), including early works to be carried out in the fourth quarter.
The estimate compares with the C$305 million ($221m) initial capital cost outlined in the project’s March 2021 feasibility study, which outlined a conventional surface mine with two open pits and 13-year milling operation.
“We have now mobilised our early works programme to the Valentine site, based on the receipt of all appropriate permits to allow work to proceed,” CEO Matt Manson said in the statement. “This programme involves the installation of a temporary camp, clearing, grubbing and pad construction for the permanent camp, road and bridge upgrades on our access road from the community of Millertown, and pond dewatering ahead of…
