Magna targets 2027 construction start at Crean Hill mine
The pre-feasibility study models a 12-year commercial mine life and C$127 million in initial capital; the company says its board approved advancing the project.
Magna Mining released a pre-feasibility study on 20 October for its Crean Hill nickel, copper and precious-metals project in Sudbury. The company’s study assumes construction beginning in 2027 and about 12 years of commercial mine life. The plan calls for initial access through a new surface ramp, possible later rehabilitation of the historic shaft, and processing at an existing third-party mill in Sudbury.
The study estimates initial capital at C$127 million, an after-tax net present value of C$251 million at a 7% discount rate, an after-tax internal rate of return of 43.4% and a 1.5-year payback period. These are pre-feasibility estimates based on company assumptions for metal prices, costs, tax credits and production, not realised results. Magna says its board approved moving toward construction in 2027, while permitting, financing and execution risks remain. The study measures payback from the end of the three-year pre-commercial production period.
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Magna Mining released a pre-feasibility study on 20 October for its Crean Hill nickel, copper and precious-metals project in Sudbury. The company’s study assumes construction beginning in 2027 and about 12 years of commercial mine life. The plan calls for initial access through a new surface ramp, possible later rehabilitation of the historic shaft, and processing at an existing third-party mill in Sudbury.
Magna Mining released a pre-feasibility study on 20 October for its Crean Hill nickel, copper and precious-metals project in Sudbury. The company’s study assumes construction beginning in 2027 and about 12 years of commercial mine life. The plan calls for initial access through a new surface ramp, possible later rehabilitation of the historic shaft, and processing at an existing third-party mill in Sudbury.
The company says its 2026 Shaakichiuwaanaan campaign has covered more than 250 holes with seven rigs; assay results are expected in the first quarter of 2027.
Source: PMET Resources
AI-generated symbolic illustration. Symbolic mineral-exploration tools; no actual company, deposit, assay result or reserve is depicted.
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