Magna Mining Approves Restart of Levack Nickel-Copper Mine, Targeting Mid-2028 Commercial Production

Published: Oct 09, 2026 09:24 (GMT+8)

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Magna Mining has formally approved the restart of the Levack nickel-copper mine in Ontario's Sudbury Basin, which has been out of production since 2018. The company will rehabilitate existing underground infrastructure, recommission hoisting systems and accelerate underground development and surface construction over the coming months.

The new PEA outlines approximately 7.3 years of commercial production, with start-up targeted for mid-2028 and average annual payable production of around 36.8 million lb of copper equivalent. Initial capital is estimated at C$70.1 million, while Magna calculates a much lower net funding requirement after pre-commercial operating cash flow and tax credits. Early mining will prioritize higher-grade copper and precious-metals-rich footwall zones.

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