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| Cornish Metals |
The UK's National Wealth Fund (NWF) is investing £28.6mn ($35.6mn) to reopen Cornish Metals Inc's South Crofty tin mine in Cornwall. This initiative aims to bolster the UK's critical mineral supply.
Funding to De-risk Historic Tin Mine
The NWF, owned by HM Treasury, contributes to a £56mn funding effort. This investment will refurbish and maintain the South Crofty mine, closed since 1998 after 400 years of tin production. The government's support aligns with its strategy to secure critical minerals. "Critical minerals are not only an important driver of the UK's transition to net zero, but also of the UK's growth mission," stated NWF chief executive John Flint. This investment follows the NWF's £24mn investment in Cornish Lithium in August 2023. The LME three-month tin price settled at $30,175/t.
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