Generation Mining has advanced the financing structure for the Marathon Copper-Palladium Project in northwestern Ontario after receiving senior lender credit approval for a US$310 million senior secured project finance facility from Export Development Canada, ING Capital and Société Générale.
The company said the senior debt facility forms part of a broader funding package that includes a C$200 million metals streaming agreement with Wheaton Precious Metals and approximately C$145 million in equipment leasing facilities, bringing total secured funding sources to about C$769 million for the planned development of the project.
Additional Public Financing Expands Project Funding
The financing package was expanded after the Canada Infrastructure Bank (CIB) received internal credit approval for a C$200 million subordinated debt facility. The proposed CIB financing includes C$110 million allocated for development and construction costs, along with a C$90 million standby facility intended to address potential project cost overruns. With the addition of the CIB facility, Generation Mining said committed project financing has increased to approximately C$969 million.
Marathon Project Moves Toward Construction Readiness
The financing arrangements support the transition of the Marathon project from a technically advanced development asset toward construction execution. The project funding structure combines multiple sources of capital, including senior secured debt, subordinated infrastructure financing, metals streaming, equipment leasing and ongoing equity discussions. The company’s financing package provides a combination of commercial and institutional funding sources designed to support the development of the copper-palladium project.
North American Copper-Palladium Supply Development Advances
Generation Mining continues to progress the Marathon project as a planned North American copper-palladium supply asset. The financing approvals provide lender support as the company advances toward completion of final documentation and preparation of a fully funded construction package.
The next stage of development will focus on converting the approved financing structure into project construction activities, with the company targeting progress during the second half of 2026.
