Generation Mining secures $141m loan for Marathon project

Srivani Venna

Mon, June 22, 2026 astatine 9:46 AM CDT 2 min read

Generation Mining has secured a indebtedness committedness of C$200m ($141m) from the Canada Infrastructure Bank (CIB) to enactment the Marathon Copper-Palladium Project successful north-western Ontario.

This backing forms portion of a larger financing program aimed astatine advancing the project's improvement and operation phases.

The CIB's committedness includes a C$110m subordinated indebtedness installation directed towards improvement and operation costs, and a C$90m standby installation to screen imaginable outgo overruns astatine the clip of construction.

This pledge from the CIB marks its archetypal concern successful Ontario's captious minerals sector, highlighting the project's strategical value to Canada's mineral proviso chain.

Generation Mining president and CEO Jamie Levy said: "The CIB's mandate to catalyse private-sector concern successful captious infrastructure makes it a earthy spouse for Generation Mining.

"The committedness further validates the spot of the Marathon project's economics, its strategical value and its value arsenic a aboriginal North American shaper of copper and palladium – 2 metals indispensable to the vigor transition."

Generation Mining has secured a full of astir C$969m for the Marathon project. This includes a elder indebtedness installation of $310m from Export Development Canada, ING Capital and Société Générale.

Additional backing comes from a metals streaming statement with Wheaton Precious Metals worthy C$200m and instrumentality leasing facilities valued astatine astir C$145m.

The CIB's concern is pending last documentation and the completion of an inter-creditor agreement. The last steps volition impact customary task concern terms.

Construction is expected to statesman successful the second fractional of 2026, contingent upon palmy task financing.

The Marathon task is simply a important undeveloped deposit with an expected excavation beingness of 13 years.

Generation Mining is continuing negotiations with surety providers and equity investors to finalise the fiscal arrangements indispensable to determination the task into its operation phase.

"Generation Mining secures $141m indebtedness for Marathon project" was primitively created and published by Mining Technology, a GlobalData owned brand.