Magna Mining in talks with Mitsui to restart Shakespeare Mine
The operators behind a proposed open-pit nickel and copper mine project, west of Sudbury, are in talks with a potential heavyweight international development partner.
In proclaiming it possesses Canada’s “next producing nickel mine,” Magna Mining, has signed a non-binding memorandum of understanding (MOU) with Mitsui, a global trading and investment company.
The two parties are discussing the possibility of Mitsui coming aboard as a 10 to 12.5 per cent joint venture partner to finance the restart of the former Shakespeare Mine, 60 kilometres southwest of Sudbury and north of the town of McKerrow.
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