The strategic move allows Cornish Metals to stay involved in Nickel King nickel-copper-cobalt asset’s potential future success, while focusing on South Crofty.
The results of a new preliminary economic assessment (PEA) for the UK project, published last month, confirmed the asset is one of the highest-grade tin resources globally, worth over $200 million.
The calculation was based on a tin price of $31,000 per tonne, slightly below its current valuation of $32,408 per tonne.
Second life
The Vancouver-based company has been working on bringing the past-producing South Crofty tin mine back to life since 2016.
The former operation has been shut since 1998 following more than 400 years of almost continuous production. It was the last tin mine in Europe when it closed. Several companies attempted to revive the flooded mines between 2001 and 2013, but due persistent poor market conditions the assets were put into administration…
