Magna Mining acquires McCreedy West copper mine from KGHM for C$9.3M, with potential future payments up to C$24M.

Magna Mining Inc. has finalized a deal to acquire several base metal assets from KGHM International Ltd., including the McCreedy West copper mine and other former mining sites. The total purchase price is C$9.3 million, with future contingent payments potentially reaching C$24 million. Magna plans to finance the acquisition through debt and aims to expedite its growth as a critical minerals producer, targeting three or more operational mines in the next 3 to 5 years.

September 12, 2024
6 Articles