- Marathon Gold (MOZ) achieves several important stakeholder agreements and permitting milestones for the Valentine Gold Project in Newfoundland
- The agreements include a Benefits Agreement, an Outfitter Environment Effects Monitoring Plan and Environment Assessment
- These are meant to maximize the economic benefits and growth within the province while monitoring healthy wildlife effects
- The company receives a surface lease
- Marathon (MOZ) is a Toronto based gold company advancing its Valentine Gold Project located in the central region of Newfoundland and Labrador, one of the top mining jurisdictions in the world.
- Marathon (MOZ) is currently trading at C$1.39.
Marathon Gold (MOZ) achieves several important stakeholder agreements and permitting milestones for the Valentine Gold Project in Newfoundland.
The key agreements include signing a Benefits Agreement between Marathon and the province of Newfoundland and Labrador. The signing of an Outfitter Environmental Effects Monitoring Plan between Marathon and the Newfoundland and Labrador Outfitters Association.
The project’s surface lease is in hand, the completion of a provincial Environmental Preview Report for the project’s powerline, and its release from the provincial Environmental Assessment.
The Newfoundland and Labrador Benefits Agreement is meant to maximize the project’s economic benefits within the province. Specifically, it will benefit areas such as employment, skills development, contracting, supplier development, and the involvement of groups traditionally under-represented in the mining business.
The agreement is meant to enhance provincial residents’ employment during construction and people living close to the province for project management, procurement and engineering.
It is noteworthy that within this agreement, there is a Gender Equity, Diversity and Inclusion Plan aiming to include women, people with disabilities, visible minorities and Indigenous persons to offer access to the economic opportunities associated with the project.
The Outfitters Environmental Effects Monitoring Plan (OEEMP) is a continuation of a Memorandum of Understanding (MOU) with the Newfoundland and Labrador Outfitters Association (NLOA) which was done back in October 2021. The OEEMP establishes a framework to assess any potential adverse effects on outfitters’ land and resources within the region of the project during construction, operation, and decommissioning. It is meant to monitor the effectiveness of mitigation measures for potential impacts outlined during the project’s Environmental Assessment. This includes wildlife monitoring such as availability of fish and wildlife resources, access, or decrease in client experiences.
The OEEMP provides for a financial compensation mechanism for economic impacts demonstrated to be caused by Marathon’s mining activities.
Concerning the permitting milestones, Marathon is being issued a Surface Lease for the project by the NL Department of Industry, Energy and Technology. This is a continuation of the project’s mining leases established on June 13, 2022. The leases cover the development of the Marathon and Leprechaun Deposits for a 20-year term on the condition it meets the standards within the NL Mineral Act of 1990.
Lastly, NL Hydro has reviewed and accepted the environmental preview report for the project’s 40 km long power line, carried out by the Environmental Assessment Division of the NL Department of Environment and Climate Change. The construction of the power line can commence after it receives sectoral permitting and is released from the federal Environmental Assessment, which is ongoing.
Marathon (MOZ) is a Toronto based gold company advancing its Valentine Gold Project located in the central region of Newfoundland and Labrador, one of the top mining jurisdictions in the world.
Marathon (MOZ) is currently trading at C$1.39.