Cornish Metals Inc. Secures £4.19M Funding for South Crofty Tin Project Advancement
- Cornish Metals secures £4.19 million funding for the South Crofty tin project, covering 62% of estimated costs.
- The Bartles Foundry project will enhance operational readiness and create significant local employment opportunities.
- Cornish Metals aims to support the UK’s mineral supply chain while reinforcing economic growth in Cornwall.
Cornish Metals Secures Funding to Advance South Crofty Tin Project
Cornish Metals Inc. announces a significant development for its South Crofty tin project in Cornwall, UK, as it secures grant funding of up to £4,190,500 from the Cornwall and Isles of Scilly Good Growth Programme. This funding, which covers approximately 62% of the estimated total cost of £6.8 million for the Bartles Foundry project, is pivotal for constructing essential workshops, stores, and offices necessary to propel the South Crofty site into production. The grant reflects the UK Government's commitment to support local initiatives aimed at stimulating economic growth and enhancing domestic mineral supply chains.
The Bartles Foundry project is not only crucial for the operational readiness of the South Crofty mine but is also expected to create substantial employment opportunities for the local community during both the construction and operational phases. CEO Don Turvey expresses gratitude for the support from local stakeholders, emphasizing the importance of this funding in advancing the project. The funding approval follows a 2024 study funded by the UK Shared Prosperity Fund, which confirmed the site’s viability for development, thereby paving the way for strategic advancements in the region's mining capabilities.
Cornwall Council’s Cabinet Member for Economic Regeneration, Cllr Tim Dwelly, underscores the broader implications of the South Crofty project, particularly its role in bolstering the UK’s domestic supply of essential minerals such as tin. Tin is recognized as a critical mineral, integral to various electronic devices, and the project aims to enhance the local economy while addressing national mineral supply concerns. With conditional planning approval granted in January 2025, Cornish Metals is poised to progress towards production, reinforcing its commitment to both the local community and the sustainability of mineral supply in the UK.
In addition to the grant funding, the project includes the acquisition of 4.5 acres of land from Cornwall Council, further solidifying the company’s foothold in the region. The historical significance of the South Crofty mine, permitted for operations until 2071, highlights its potential to generate up to 320 direct jobs, benefitting the local workforce. As the global demand for tin continues to rise, Cornish Metals is strategically positioned to meet this need while contributing to the economic resilience of Cornwall and the Isles of Scilly.