Magna Mining Receives C$140m Investment from Peruvian Mining Group Alpayana

Dow Jones07-06

Magna Mining is getting a 140 million Canadian dollar ($98.6 million) investment from Peru's Alpayana, granting it a nearly 20% position in Magna.

The Canadian mining company said Monday that Alpayana, a private mining group operating in Peru and Mexico, will acquire 62.2 million shares at a price of C$2.25 apiece by way of a nonbrokered private placement financing.

Magna is a mining company with a strong portfolio of copper, nickel and precious metals assets located in the Ontario's Sudbury mining district. The company operates the McCreedy West Mine and has a pipeline of prospective past-producing properties including Levack, Crean Hill, Podolsky and Shakespeare.

The offer price is below Magna's recent trading price, which has been down about 19% since the start of the year, closing on Friday at C$2.35. The stock is still up about 26% over the last 52 weeks.

Once the offer closes, Alpayana is expected to hold a 19.9% stake in Magna.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

July 06, 2026 07:07 ET (11:07 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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