Levack Restart Puts Magna on Two-Mine Path
The project could pay back its initial investment in about seven months, and the mine is expected to employ about 200 full-time workers.
- On Thursday, Magna Mining Inc. formally approved the restart of the Levack Mine in Sudbury, Ontario, targeting commercial production by mid-2028.
- The Levack Mine ceased operations in 2018 amid slumping metal prices, then was acquired by Magna Mining from KGHM International Ltd. in 2024.
- A preliminary economic study forecasts 7.3 years of mine life, processing 5.75 million short tons with initial capital costs of $70.1 million.
- Once fully operational, the project will employ 200 full-time workers. CEO Jason Jessup said the plan focuses on copper, which has been "doing very well."
- Magna is also evaluating other properties like Crean Hill as part of a broader strategy to bring shuttered Sudbury mines back to production using existing infrastructure.
11 Articles
11 Articles
Mine shut down in Greater Sudbury in 2018 could reopen by 2028, says Magna Mining
A Sudbury mine that shut down eight years ago in the face of slumping metal prices could soon be headed back into production. Magna Mining announced Thursday that a preliminary economic study shows the Levack Mine could be economically viable again.
Globe Newswire
Financial PostMagna Mining Reports Results of Levack Mine Preliminary Economic Assessment and Approves Restart of Production
SUDBURY, Ontario, Oct. 08, 2026 (GLOBE NEWSWIRE) -- Magna Mining Inc. (TSX: NICU) (OTCQX: MGMNF) (FSE: 8YD) (“Magna” or the “Company”) is pleased to...
Levack restart puts Magna on two-mine path – by Henry Lazenby (Northern Miner – October 8, 2026)
Global mining news Magna Mining has approved a $70-million (US$49 million) restart of its Levack nickel-copper mine near Sudbury, Ont., targeting commercial production by mid-2028. Thursday’s preliminary economic assessment values Levack, about 400 km north of Toronto, at $227 million after tax using a 7% discount rate. That’s less than half Desjardins analyst Bryce Adams’ ...
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