Cornish Metals has issued an update on the progress of the South Crofty Tin Project.
Tin is a ‘critical mineral’ as defined by the UK, USA, and Canadian governments, but there is no primary tin production in Europe or North America.
Cornish Metals is targeting production in 2026, coinciding with projected deficits in tin supply.
Last May, the company completed a £40.5 million funding, the use of proceeds for which are to construct the mine water treatment plant, dewater the mine, and complete a feasibility study. It says the project could generate 250 – 300 direct jobs.
CEO Richard Williams said: “We have made very good progress over the last eight months, building an experienced and highly motivated team at South Crofty.
“The company remains on track to commission the mine water treatment plant in June this year, with the objective of commencing full scale dewatering operations in July. Construction costs for the mine water treatment plant remain in line with previous guidance of £6.5 million to £7 million.
“In addition to the mine dewatering programme, ongoing metallurgical, feasibility study and exploration work will provide news flow for Cornish Metals through 2023.”