Minister Champagne welcomes Canada Growth Fund investment in Ontario copper and palladium mine

Minister Champagne welcomes Canada Growth Fund investment in Ontario copper and palladium mine

September 15, 2026 - Ottawa, Ontario - Department of Finance Canada

As global demand for critical minerals continues to grow, Canada is strengthening its position as a reliable supplier of the materials needed to power clean energy technologies, advanced manufacturing and critical infrastructure. Copper is essential for electrification and energy systems, while palladium plays an important role in industrial applications and emissions reduction technologies. Supporting secure and sustainable domestic supply chains for these critical minerals is a key objective of the Government of Canada's Critical Minerals Strategy.

Today, the Honourable François-Philippe Champagne, Minister of Finance and National Revenue, welcomed a strategic commitment by the Canada Growth Fund to invest approximately C$140 million in Generation Mining Limited (GENM)’s Marathon Project, a large, shovel-ready copper and palladium mine in Northwestern Ontario. The investment forms part of a broader financing raise that will help advance the construction of the project.

The Marathon Project is expected to play a key role in strengthening Canada’s critical minerals value chain, supporting long-term economic and industrial priorities, reinforcing the country’s competitiveness in the global race for critical minerals, and creating well-paying jobs. It is expected to generate over 800 construction jobs, followed by more than 400 direct permanent positions during the mine’s operational life, delivering lasting economic benefits to Northwestern Ontario and Indigenous and local communities.

In addition to the commitment announced today, GENM received $771,000 from the Critical Minerals Infrastructure Fund as part of the Canadian Critical Minerals Strategy.