“Having achieved numerous important milestones in the last year, including the progress of mine dewatering and shaft refurbishment, as well as completion of a robust Preliminary Economic Assessment, this financing enables the Company to maintain the strong momentum as we continue to progress towards a restart of tin production at South Crofty,” said Cornish Metals CEO Don Turvey.
Cornish Metals has spent the last eight years working on reopening the past-producing South Crofty tin mine. The operation was shut in 1998, following more than 400 years of almost continuous production.
South Crofty was the last tin mine in Europe when it closed. Several companies attempted to revive the flooded mines between 2001 and 2013, but due to persistent poor market conditions, the assets were put into administration in 2013.
The new South Crofty is expected to produce 49,310 tonnes of tin metal in concentrate over its…
