Strategic Minerals secures grant for Cornwall tin mine project
Mineral exploration and production company Strategic Minerals has secured Government funding to progress work at its Redmoor project in Cornwall, which it believes has the potential to support an economically viable tin mine.
Strategic Minerals’ wholly owned subsidiary Cornwall Resources (CRL) has finalised grant funding of over £764,000 through the UK Shared Prosperity Fund.
The project, between the village of Kelly Bray and the town of Callington in south east Cornwall, is in the heart of the historic Cornish tin mining district.
The original Redmoor mine was among a group opened in the 18th century and continued operating until 1892 when they were forced to close due to low tin prices.
The grant funding, which will be equally matched by company expenditure up to a total project spend of £1.52m, will enable new exploration activities, including borehole drilling, aimed at accelerating the development of the Redmoor Tungsten-Tin-Copper Project.
This will be the first new exploration drilling to be undertaken at Redmoor since 2018.
Charles Manners, chairman of Strategic Minerals, said: “I congratulate the hard work of our CRL team in securing this opportunity to co-fund a significant work programme. The grant funding investment through the CIOS Good Growth Programme will seek to enable the accelerated development of Redmoor and improve our ability to highlight its world-class, high-grade, polymetallic tungsten resource. We look forward to announcing results as the Project progresses.
“Match funding by SML unlocks the grant funding from the CIOS Good Growth Programme, and continues to support our improved outlook, secured through operational and management changes.
“The company has committed to scaling the opportunity in Cornwall, and this project marks the first steps in relaunching the company and highlighting the world-class potential of the Redmoor Tungsten-Tin-Copper Project.”
SML bought into CRL in 2016 and completed the purchase of the project three years later. Cornwall Council is responsible for managing projects funded by the UK Shared Prosperity Fund through the Cornwall and the Isles of Scilly Good Growth Programme.
