Magna Mining

Magna Mining is a Canadian base metals exploration, development, and production company focused on assets in the Sudbury Basin of Ontario, a premier global mining district. The company was co-founded in 2016 by CEO Jason Jessup, a mining industry veteran with over 25 years of experience, much of it in the Sudbury region with companies like Inco and FNX Mining.

Jessup's experience with FNX Mining, a successful junior that acquired and revived non-core assets from major miner Inco, heavily influenced Magna's strategy. Recognizing that these same assets had again become non-core to a larger company, KGHM International, Jessup founded Magna to unlock their value. The company went public in 2021 and has since made a series of strategic acquisitions. Key milestones include acquiring the Crean Hill Mine in 2022 and, in a transformational deal closed in February 2025, purchasing a portfolio of eight properties from KGHM, including the producing McCreedy West Mine.

Magna's business model centers on a three-pillar growth strategy: optimizing current production, restarting past-producing mines, and aggressive exploration. The company generates revenue by selling ore from its producing mines, like the copper-rich McCreedy West, directly to major local processing facilities owned by Vale and Glencore, avoiding the significant capital expenditure of building its own mill. This immediate cash flow is intended to fund the phased restart of its other permitted, past-producing mines, including Levack, Crean Hill, and Podolsky, with a goal of having three to four mines in operation within five years. The company's flagship assets include the McCreedy West Mine (copper, nickel, PGMs), the Crean Hill Project (nickel, copper, PGMs), and the Shakespeare Project (nickel, copper, PGMs), which is fully permitted for a 4,500-tonne-per-day mine and mill. By acquiring properties with known resources and existing infrastructure in a politically stable jurisdiction, Magna aims to de-risk its development pipeline and build a multi-asset, mid-tier producer of critical minerals like copper and nickel, essential for the electric vehicle and green energy industries.

Keywords: nickel mining, copper production, platinum group metals, Sudbury Basin, mineral exploration, base metals, past-producing mines, McCreedy West Mine, Crean Hill Project, Shakespeare Project, Jason Jessup, mining development, critical minerals, toll milling, Canadian mining, resource development, exploration properties, battery metals, Vale, Glencore