Magna Mining
Magna Mining Inc. is a Canadian base metals producer operating the McCreedy West copper-nickel-precious metals mine in Sudbury, Ontario, with a permitted development pipeline of past-producing assets including Levack, Crean Hill, Podolsky, and Shakespeare. The company sells payable copper-equivalent pounds to global smelters and commodity markets.
- Company typePublic
- Founded2025
- HeadquartersSudbury, Canada
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Magna Mining does
Magna Mining Inc. (TSX: NICU) is a Canadian base metals producer headquartered in Sudbury, Ontario. The company operates the McCreedy West Mine, which produces copper, nickel, platinum, palladium, gold, and silver from the 700 Footwall Copper Zone, and holds a portfolio of permitted development-stage assets in the Sudbury Basin including Levack, Crean Hill, Podolsky, and Shakespeare. Revenue is generated by selling payable copper-equivalent pounds to smelters and global commodity markets at prevailing market prices. FY2025 revenue was C$60.0 million from 11.5 million CuEq payable lbs, with FY2026 guidance of 16-18 million CuEq payable lbs and Q1 2026 revenue of C$25.9 million.
The company's business model is a single-asset, commodity-exposed mining operation transitioning toward a multi-asset producer. Magna acquired the Sudbury portfolio from KGHM Polska Miedź in February 2025, transforming itself from explorer to producer. Production economics are anchored on ore grade (3.38% CuEq at McCreedy West) and commodity prices; Q1 2026 cash costs were US$3.48 per CuEq lb with all-in sustaining costs of US$4.21 per CuEq lb. Cash margin was C$6.0 million in Q1 2026, with a C$35.8 million cash balance and C$53.7 million working capital position. Capital deployment centers on advancing Levack toward a restart decision in H2 2026 (PEA in progress following high-grade R2 Footwall Zone drilling) and completing a Pre-Feasibility Study at Crean Hill in Q3 2026.
The company's growth strategy depends on converting permitted, past-producing properties into producing mines. An Orix Geoscience partnership has digitized historical geological data and contributed a 3.5 million tonne resource increase at Levack valued at C$1.8 billion in-situ. Magna raised approximately C$70 million in 2025 through a C$25 million private placement and a C$45 million LIFE offering, and graduated from the TSX Venture Exchange to the TSX in June 2026 to broaden institutional investor access. Dundee Corporation holds approximately 18.83% of the company following warrant exercises in November 2025.
Magna Mining firmographics
Firmographics- Name
- Magna Mining
- Legal name
- Magna Mining Inc.
- Website
- https://magnamining.com
- Company type
- Public
- Founded year
- 2025
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Magna Mining Inc. is a Canadian base metals producer operating the McCreedy West copper-nickel-precious metals mine in Sudbury, Ontario, with a permitted development pipeline of past-producing assets including Levack, Crean Hill, Podolsky, and Shakespeare. The company sells payable copper-equivalent pounds to global smelters and commodity markets.
- Ownership category
- akta.pro rank
Magna Mining industry classification
Industry- Product category
- Base Metals Mining
- NAICS
- Copper, Nickel, Lead, and Zinc Mining (212230), Other Metal Ore Mining (212290)
- SIC
- Metal Mining (1000), Gold And Silver Ores (1040)
- akta.pro primary industry
- Copper Ore Mining (Open-Pit & Underground) (IMAKADAB)
Keywords
Where Magna Mining is headquartered
LocationHeadquarters
- HQ city
- Sudbury
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
Magna Mining business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Infrastructure, Supply Chain, Marketing or Sales
Revenue model
- Copper Production: Copper production from McCreedy West Mine 700 Footwall Copper Zone, producing approximately 2.0 million lbs copper per quarter in Q1 2026, with Q1 2026 revenue of $25.4 million from mining operations.
- Nickel Production: Nickel production from Intermain Nickel Zone at McCreedy West, with potential restart being evaluated. Produced 0.24 million lbs nickel in Q1 2026.
- Precious Metals Production: Precious metals by-products including platinum, palladium, and gold from copper-precious metals zones. Q1 2026 production included 1,368 ounces platinum, 1,412 ounces palladium, 437 ounces gold, and 16,613 ounces silver.
- Exploration and Development Assets: Future revenue potential from development-stage projects including Levack Mine and Crean Hill Project, with PEA and Pre-Feasibility Study completion anticipated in Q3 2026.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Magna Mining product offering
Product offeringCore offering
Magna Mining is a producing base and precious metals mining company that extracts and sells copper, nickel, platinum, palladium, gold, and silver (measured as copper equivalent payable pounds) from its McCreedy West Mine in Sudbury, Ontario. The company also holds a pipeline of permitted past-producing properties — Levack, Crean Hill, Podolsky, and Shakespeare — that it is advancing through exploration and Pre-Feasibility Studies toward future production.
Product overview
Magna Mining is a producing copper and nickel mining company with a portfolio of assets in the world-class Sudbury mining district of Ontario, Canada. The company's offering consists of the producing McCreedy West Mine as its primary asset, supported by a pipeline of highly prospective past-producing properties including Levack, Crean Hill, Podolsky, and Shakespeare. The company produces copper equivalent payable pounds containing copper, nickel, and precious metals (platinum, palladium, gold, silver). The projects range from producing (McCreedy West) to permitted development-stage properties (Levack, Crean Hill, Podolsky, Shakespeare) with ongoing exploration and economic studies.
Differentiator
Problem solved
Functional benefit
Products and services
- McCreedy West Mine The primary producing asset of Magna Mining located in Sudbury, Ontario. This copper-precious metals-nickel mine processes ore from the 700 Footwall Copper Zone at 3.38% copper equivalent grade and produces payable metals including copper, nickel, platinum, palladium, gold, and silver. Initial mining reserves demonstrate a three-year production profile.
- Levack Mine A past-producing permitted property in the North Range of the Sudbury Basin, Ontario, featuring the high-grade R2 Footwall Zone discovery with copper and precious metals mineralization. Recent drilling returned 29.7% copper equivalent over 3.4 metres with 19.8 g/t gold and 8.8 g/t platinum+palladium. Undergoing a Preliminary Economic Assessment with restart decision expected in H2 2026.
- Crean Hill Project A permitted Nickel-Copper-Precious Metals Project in Sudbury, Ontario with anticipated 13-year mine life based on a Pre-Feasibility Study underway with completion expected Q3 2026. The project combines base and precious metals with anticipated high internal rate of return based on conservative metal prices.
- Podolsky Project A permitted property in the Sudbury Basin, Ontario, part of Magna Mining's pipeline of highly prospective past-producing properties acquired from KGHM in February 2025.
- Shakespeare Project A permitted property in the Sudbury Basin, Ontario, part of Magna Mining's pipeline of highly prospective past-producing properties acquired from KGHM in February 2025.
Quantifiable outcome
- Q1 2026 production of 4.1 million CuEq payable lbs with positive cash margin of $6.0 million
- +3 more outcomes
Companies that use Magna Mining
Customer profileSegments1 record
Ideal customer profiles2 records
Magna Mining technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Magna Mining partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and minor.
- KGHM Polska MiedźcoreKGHM divested non-core Canadian assets including the Sudbury Basin package to Magna Mining in February 2025. KGHM is Europe's largest copper producer with market cap of approximately $18 billion, pursuing global mine acquisition strategy.
- Orix GeosciencecoreOrix Geoscience partnered with Magna Mining to digitize, catalog, and interpret historical geological datasets for the Levack, Crean Hill, and McCreedy West mines. The partnership resulted in a 3.5 million tonne increase in Levack's indicated and inferred resource valued at $1.8 billion.
- Willeson MetalsminorOrix Geoscience also partnered with Willeson Metals' Hatchet project along the Lynn Lake greenstone belt in Manitoba, scanning and cataloguing over 2,198 paper drill logs and 1,545 large format maps to identify new exploration targets.
Scale indicators10 records
Recent moves7 records
Expansion highlights5 records
Magna Mining competitors and assessment
Company assessmentBroad incumbents
- KGHM Polska Miedź: Europe's largest copper producer and the seller of the entire Sudbury asset package to Magna Mining in February 2025. KGHM is a directly comparable operator of copper-nickel-PGM assets and validates the asset quality that Magna now controls.
- Vale Canada (Sudbury Operations): Operates the Sudbury Basin's largest nickel-copper-PGM mines (formerly INCO). Direct geological and operational comparable to Magna — same district, same orebody types — though at vastly larger scale.
- First Quantum Minerals: Global copper miner with Canadian roots; large producing copper-nickel-PGM exposure. Comparable commodity mix to Magna's copper-PGM production, but at multi-asset global scale.
- Glencore (Sudbury Operations): Operates the Sudbury Basin nickel-copper-PGM assets inherited from Xstrata/Falconbridge. Direct geological and operational comparable to Magna in the same district at major scale.
Direct peers
- Lundin Mining: Mid-tier Canadian base-metals miner producing copper, nickel, and zinc across multiple jurisdictions. Closely comparable business model and commodity mix to Magna's copper-nickel-PGM focus at Sudbury.
- Hudbay Minerals: Canadian copper miner with producing assets and a development pipeline that closely mirrors Magna's copper-zinc-PGM production profile. Both are intermediate producers with a multi-asset Canadian focus.
- Canada Nickel Company: Canadian junior developing nickel-cobalt-PGM assets in the Timmins/Crawford region. Comparable junior-stage mining profile, similar commodity exposure (Ni with Cu/PGM by-products) and similar Ontario jurisdiction to Magna.
- Sherritt International: Canadian nickel-cobalt producer (Ambatovy, Moa JV). Closely comparable junior-to-mid-tier base-metals profile focused on nickel with copper and PGM by-products.
Emerging players
- Power Metallic Mines (Power Nickel): Canadian junior focused on nickel-copper-PGM exploration near Sudbury. Direct comparable on commodity mix and emerging-producer stage, though earlier in development than Magna.
Others
- Treasury Metals: Canadian mid-tier miner with gold-development assets. Less direct commodity overlap, but comparable small-cap Canadian mining profile and similar regulatory/marketing characteristics.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Magna Mining social profiles
Digital presenceMagna Mining financial estimates
Financial estimateRevenue estimate
Valuation estimate
Magna Mining leadership team
Management profileNumber of profiles
Profiles8 records
Magna Mining funding detail
Funding detailFunding overview
Funding rounds6 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Magna Mining M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Magna Mining
What does Magna Mining do?
Magna Mining is a producing base and precious metals mining company that extracts and sells copper, nickel, platinum, palladium, gold, and silver (measured as copper equivalent payable pounds) from its McCreedy West Mine in Sudbury, Ontario. The company also holds a pipeline of permitted past-producing properties — Levack, Crean Hill, Podolsky, and Shakespeare — that it is advancing through exploration and Pre-Feasibility Studies toward future production.
Is Magna Mining a public or private company?
Magna Mining is a public company. It is classified as public and is currently operating.
When was Magna Mining founded?
Magna Mining was founded in 2025. It employs 101 to 250 people.
Where is Magna Mining based?
Magna Mining is headquartered in Sudbury, Canada, in the North America region.
How does Magna Mining make money?
Four revenue lines are on record. Copper Production is the primary driver. The others are nickel Production, precious Metals Production and exploration and Development Assets.
Who are Magna Mining's main competitors?
Broad incumbents on record are KGHM Polska Miedź, Vale Canada (Sudbury Operations), First Quantum Minerals and Glencore (Sudbury Operations). Direct peers are Lundin Mining, Hudbay Minerals, Canada Nickel Company and Sherritt International. Power Metallic Mines (Power Nickel) is listed as an emerging player. Treasury Metals is listed as an others.
Does Magna Mining have an API?
No public API is recorded for Magna Mining.
What industry is Magna Mining in?
Magna Mining's product category is Base Metals Mining. Its primary akta.pro industry code is IMAKADAB, Copper Ore Mining (Open-Pit & Underground). Its NAICS code is 212230 and its SIC code is 1000.