"Britain's only tin mine could end up exporting much of its future production to the United States after the American government signalled it is prepared to provide up to $225 million (£166 million) in financing to revive the historic South Crofty site in Cornwall. Cornish Metals, which is working to bring the South Crofty mine near Camborne back into production, has received a letter of interest from the Export-Import Bank of the United States (Exim),"
"In its statement, Cornish Metals said Exim's interest was explicitly tied to South Crofty providing a "responsible supply of tin concentrate" to the United States, as Washington seeks to strengthen critical mineral supply chains and reduce dependence on overseas producers. The company estimates it will cost around £198 million to restart the mine by mid-2028, with both costs and timelines increasing over the past year."
Cornish Metals has received a letter of interest from the Export-Import Bank of the United States proposing potential financing of up to $225 million (£166 million) tied to supplying tin to the US market. The company previously secured a £28.6 million equity investment from the UK's government-backed National Wealth Fund. Cornish Metals estimates restarting South Crofty will cost around £198 million with production targeted by mid-2028, though costs and timelines have increased. South Crofty is expected to produce about 4,700 tonnes of tin concentrate annually in its first five years, roughly equal to current UK consumption. Tin is classed as a critical mineral used in electronics and renewable energy systems. Exim's interest is linked to expectations around offtake and responsible supply.
Read at Business Matters
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