Value Hive Podcast [REPLAY] Jason Jessup: Building a $1B+ Mining Company with Magna Mining $NICU
Jan 16, 2026
Jason Jessup, the CEO and founder of Magna Mining, previously led operations at FNX Mining. He shares insights into building a billion-dollar mining company, discussing his journey from Inco to FNX and establishing Magna in 2016. They explore the unique challenges of junior versus major miners, the strategic acquisition of undervalued assets, and the importance of a strong, local team. Jessup emphasizes operational resilience, a focus on safety, and transparent communication with shareholders as key ingredients for success.
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From Inco To FNX: Switching To A Junior Playbook
- Jason left a large bureaucratic miner (Inco) to join FNX's entrepreneurial restart at McCreedy West and never looked back.
- He spent six years there helping scale production and cash flow before FNX's rise to prominence.
Junior Agility Multiplies Value
- Small, fast juniors can repeatedly exceed forecasts and compound value through operational improvements.
- FNX generated massive free cash flow that funded discovery and growth without debt.
Speed And Flat Structure Beat Scale For Niche Assets
- Juniors outperform majors on niche assets because they can act quickly on new data and reallocate plans.
- Flat structures and fewer non-value roles lower costs and speed decision-making.