As a brownfield site, it is currently subject to an existing closure plan filed by Vale, which has retained surface rights to the property since closing the mine in 2002. Magna acquired the project its takeover of Lonmin Canada, who was responsible for much of the exploration at Crean Hill between 2003-2022.
Magna’s chief executive, Jason Jessup, said the offtake agreement is “the culmination of several months of work” with the global miner.
“Additionally, the recent announcement of the filed amended closure plan has Magna on track to have all the permits in place to develop the ramp from surface, which will allow for underground test mining and set up for a future commercial production decision.”
Under the agreement, initial production from Crean Hill would be shipped to Vale’s Clarabelle mill in Sudbury for processing. This includes material from the Main, Intermediate, 9400, 9400 Footwall and 101 Footwall zones. The…
