Stillwater Mining Company completed the acquisition of Marathon PGM Corporation in 2010. The Marathon PGM-copper Project, located in northwest Ontario, Canada is an advanced stage development project. The project is in the permitting process and preparations for detailed engineering and construction of a conventional open pit mining operation are in progress. It is anticipated that this project will add significantly to the Company’s current production of PGMs in addition to new copper production.
The Marathon PGM-copper project is located within the Coldwell Complex, a large magmatic intrusive body near the northern shores of Lake Superior. With its Marathon PGM-copper project, Stillwater controls nearly 60 square miles (155 square kilometers) of contiguous mining claims covering the most prospective geologic units within the Coldwell Complex. It is anticipated that the project will produce 200,000 PGM ounces (6.2 million grams) and 37 million pounds (16.8 million kilograms) of copper annually.
