Below is the interpretation of the cell notation Mg/Mg\(^{2+}\)//Cu\(^{2+}\)/Cu:

Mg/Mg\(^{2+}\) ⇒ Mg is the anode, where oxidation is taking place as there is an increase in oxidation number from 0 to +2

// ⇒ This represents the salt bridge or a porous barrier separating the two half-cells.

Cu\(^{2+}\)/Cu ⇒ This represents the copper electrode (cathode) and its corresponding copper ions in solution. Copper ions are reduced to copper metal.

Therefore, the correct statement is Magnesium is the anode - Option C