Generation Mining Limited reported that bid pricing received for major equipment and construction packages representing approximately 30% of the capital cost for the 100%-owned Marathon Copper-Palladium Project in Northwestern Ontario is, in aggregate, at or below the cost allowances in its 2025 Feasibility Study.

The update follows the March 2026 appointment of Ausenco as the engineering, procurement and construction management partner for the project. The engineering, procurement and construction management team has advanced multiple procurement packages, including grinding mills, a high-voltage substation, a thickener, a primary crusher, hydrocyclones, and a pre-engineered process plant building. Technical and commercial evaluations are currently underway for these packages.

The company has leased a 263-bed construction camp with an option to purchase, de-winterizing approximately 10% of the units for initial site preparation. Generation Mining is also progressing procurement for an additional 286 beds and a 500-bed overflow camp, targeting a peak total of approximately 786 beds alongside associated catering.

In infrastructure planning, Generation Mining has selected an original equipment manufacturer for the project mining fleet, advanced discussions regarding a related maintenance and repair contract, and chosen a fuel supplier to establish on-site facilities. The company also agreed to a temporary construction powerline take-off peaking at 4MW with Hydro One while advancing its agreement for the permanent powerline.

“Our early procurement results are encouraging. Bid pricing received for packages representing approximately 30% of the Project’s estimated capital cost is, in aggregate, at or below the corresponding aggregate Feasibility Study allowances. While individual package results vary, the combined outcome provides additional confidence in the overall capital cost estimate as we advance detailed engineering and construction readiness activities.”

— Clinton Swemmer, VP Projects

The project previously reached a regulatory milestone in May 2025 when the company received its final key construction permit, the Environmental Compliance Approval for Industrial Sewage Works, from the Ontario Ministry of Environment, Conservation and Parks.

Generation Mining is advancing discussions to finalize definitive agreements for the project mining fleet and associated maintenance and repair contract, while continuing work toward making a construction decision and securing construction financing for the project.

Read the full announcement: Generation Mining Reports First 30% of Marathon Capital Costs Bid at or Below Feasibility Study Estimates