South Crofty tin mine boosted by funding
Cornish Metals has completed its £135mln fundraising round, supported by £41.7mln from the National Wealth Fund.
The financing will see Cornish Metals through the construction of the South Crofty tin mine all the way to the first production in mid-2028.
In addition to the National Wealth Fund’s recent participation, it also invested £28.6mln in equity in 2025.
New and existing investors injected £93.3mln of equity in funding - including £11.2mln from Glencore, which secures a major six-year offtake agreement.
Proceeds will support the development of the mine towards production, delivering a secure domestic supply of tin for the UK.
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