Cornish Metals secures nearly £30 million to revive South Crofty tin mine, aiming for 300 jobs by 2027 and tapping into rising tin demand for electronics.
Cornwall: The mining scene in Cornwall is getting a big boost. South Crofty, a historic tin mine, is set to make a comeback with nearly £30 million in public funding. This investment aims to restart tin production by 2027 and create around 300 jobs.
The National Wealth Fund announced a £28.6 million investment in Cornish Metals, the mine’s owner. This funding is part of a larger £56 million effort to reopen the Pool mine. South Crofty, which closed in 1998, was the last working tin mine in Britain.
There’s a growing demand for tin, especially for electronics and electric vehicles. Cornish Metals believes the mine could produce around 80,000 tonnes of tin.
The company is excited about the funding. They mentioned that the National Wealth Fund and other investors are backing this project, which is crucial for the UK economy. This support signals to private investors that South Crofty is a significant opportunity.
Chancellor Rachel Reeves praised the investment, saying it will help boost the economy and create quality jobs in the region. Local MP Perran Moon also welcomed the news, highlighting the hard work that went into securing this funding.
After 27 years, Cornwall is on the path to reviving its tin mining industry, bringing jobs and growth back to the area.
