Magna Mining announced a Preliminary Economic Assessment (PEA) for the Levack Mine in Ontario, forecasting 7.3 years of production starting mid-2028 with average annual copper equivalent output of 36.8 million pounds at competitive costs. The project requires an initial capital of C$70.1 million, offset by tax credits and pre-commercial cash flow, resulting in a net funding need of C$8.6 million. The PEA shows a rapid payback of 0.6 years and a robust after-tax IRR of 92.4%, with potential improvements from new tax incentives. The company's board has approved the mine restart, aiming to leverage existing infrastructure and explore additional mineral zones to extend mine life and enhance economics.
Magna Mining's Levack Mine restart plan is the subject, with Pluang market data providing context. For readers following Basic Materials, here is Pluang's market snapshot as of Oct 08, 2026 17:11 WIB: Out of 38 priced US stocks, 16 rose and 21 fell. Notable prices include TECK at USD 64.58 with a -1.24% change and a typical hold time of 12 days, MP at USD 45.82 with a -1.06% change and 68% sell order activity, and JCI at USD 154.30 with a -1.05% change and 100% buy order activity, held typically for 65 days.
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