Generation Mining (GENM.TO) has ticked a very important box in the permitting process for its Marathon PGM project (with palladium and copper as main metals). Last Saturday, the Biigtigong Nishnaabeg band approved the community benefits agreement with Generation Mining which basically means the company has the full support of BN.
That’s an important step as it basically means the BN agrees to the mine plan and the plan to mitigate the environmental impact of the mine. Not only did the BN approve the community benefits agreement, the quote of Chief Duncan Michano clearly shows the appreciation for the work done by Generation Mining to come to an agreement with the First Nations band as he basically said that other companies should follow Generation’s blue print in dealing with the locals.
The next big catalyst will come from the Federal and Provincial government as their deadline to decide on the Environmental Assessment expires on November 30. While there is no penalty if the governments miss this deadline, we do hope to see the final outcome of the permitting process within the next two weeks. In case the EA decision is positive, the company will apply for the required permits and start to implement the requirements identified as part of the Environmental Assessment process. Generation remains on track to start building the mine in 2023 upon the receipt of all necessary approvals and permits.
Disclosure: The author has a long position in Generation Mining. Generation is a sponsor of the website. Please read our disclaimer.
