Cornwall Council and the owner of South Crofty Mine have reached an agreement over land use to allow a new link road to be built.
The Council and Western United Mines (WUM) have revealed details of a “land swap deal” that will enable a vital new road link to be built and the relocation of surface mining infrastructure, including the development of a new concentrator building, where the ore will be extracted from the mined material.
“This is a landmark moment in the regeneration of this industrial heartland of Cornwall”
The Council says the agreement is crucial to the economic regeneration of the Camborne, Pool and Redruth area and could see over half a billion pounds of private sector investment in the long term. The new deal could also bring the creation of up to 2,400 jobs and see 800 new homes being built.
Under terms of the agreement, WUM will move its surface mining operations at Dudnance Lane to the south where its modern surface infrastructure will be built, which will provide the opportunity to develop the east-west link road through the existing site which will clear the way for massive regeneration opportunities.
As part of the package, the Council will also help fund site improvements, including clearing existing buildings, as part of a wider scheme of regeneration that aims, with funding support from the European Convergence Programme, to transform the area over the next ten years.
Carolyn Rule, Cornwall Council cabinet member for Economy and Regeneration, said: “This is a landmark moment in the regeneration of this industrial heartland of Cornwall. This new agreement is an absolutely vital piece of the jigsaw in bringing about the transformation of the area with new jobs and new homes.”
Alan Shoesmith, chief executive of Western United Mines, added: “This deal represents the culmination of two years work with Cornwall Council. It is a very exciting step forward in that it paves the way for the development of the modern mine that we have always planned for – as well as regenerating the whole area.”
Bill Radmore, investment director at CPR Regeneration said: “This is a good demonstration of how partnerships such as this with the private sector can both help business thrive in Cornwall and deliver essential infrastructure for the community.”