Magna Mining Targets February 2025 Closing for Sudbury Basin Acquisition

Magna Mining is advancing towards the completion of its acquisition of a portfolio of base metals assets in the Sudbury Basin from an affiliate of KGHM. Initially announced on September 12, 2024, and updated on January 9, 2025, the transaction remains on track to close before the end of February 2025.
Since finalizing the share purchase agreement (SPA) on September 11, 2024, Magna and KGHM have been actively working alongside their respective advisors to satisfy all conditions precedent, including obtaining the necessary regulatory and third-party approvals.
“We are pleased with the progress made in advancing this transaction,” said Magna Mining. “The acquisition of these Sudbury Basin assets aligns with our strategy of building a robust base metals portfolio, and we remain focused on completing the final steps before closing.”
About Magna Mining
Magna Mining is an exploration and development company focused on nickel, copper, and PGM projects in Ontario’s Sudbury Region. The company’s flagship assets include the past-producing Shakespeare and Crean Hill Mines. The Shakespeare Mine is at the feasibility stage and holds key permits for a 4,500-tonne-per-day open-pit mine, processing plant, and tailings storage facility, surrounded by a 180 km² prospective land package. Crean Hill, a historically productive nickel, copper, and PGM operation, has an updated technical report dated July 2023.
By Kevin Vincent, Senior Contributing Editor to Mining Life Online and Mining Life & Exploration News.
Tags: Northern Ontario / Exploration / Battery Metals / All Articles