This research investigates the properties and behaviour of magnesium (Mg) and magnesium/carbon (Mg/C) plasmas generated using the electric explosion strips technique, a method noted for producing large quantities of nanomaterials and generating plasma in confined environments. Plasma was created by passing high current densities through a metal stripe immersed in distilled, deionized water, leading to rapid ionization. Optical Emission Spectroscopy (OES) was employed to analyse the plasma properties, as it preserves the original state of the plasma and allows for detailed characterization based on emitted optical spectra. Key parameters, including electron temperature (T_e) and electron density (n_e), were determined using the Boltzmann diagram and Stark broadening method, respectively. The study observed that increasing exploding current, ranging from 25 to 125 A, enhanced the ionization processes, leading to higher electron temperatures and densities. T_e increases from 0.71 to 0.97 eV and n_e increases from 21.41 × 10¹⁶ to 25.37 × 10¹⁶ cm^-3 for magnesium plasma. At the same current value, T_e climbed from 0.92 to 1.10 eV, and the electron density increased from 11.5×10¹⁷ to 19.7×10¹⁷ cm^-3 when the magnesium bar detonated together with the carbon rod. The findings highlight the significant effect of detonation current on plasma properties, which is attributed to enhanced heating mechanisms and increased ionization, contributing to higher electron densities and temperatures.