The Cornwall and Isles of Scilly Good Growth Programme has invested £4.7m to make Cornwall a "world-class region" for tech metal mining.
The investment hopes to accelerate the Duchy's goal to be a major environmentally sustainable producer of critical minerals such as lithium, tin and tungsten, unlocking potentially thousands of jobs. Cornwall and the South West have been recognised in the government’s UK Critical Minerals Strategy as a nationally-significant resource for the exploration, extraction and processing of these minerals.
Research showed that Cornwall could meet more than half the UK’s 2030 demand for lithium, which is an essential part of the electric vehicle battery supply chain. In December the county was named the 'Most Improved Mining Jurisdiction of the Year' at the mining awards. Cornish company, Cornish Lithium, was named Exploration Discovery of the Year winner at the same awards, run by the Resourcing Tomorrow mining conference.
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The investment has been welcomed by the Cornwall Mining Alliance, which has some 130 members, with about 70 connected directly to technology metals.
Jean Taylor MBE, part of the Cornwall Mining Alliance steering committee, said: “This strategic investment in Cornwall's mining sector will accelerate its development and help unlock its enormous potential in an environmentally sustainable way. With millions of pounds poised to be invested in a number of exploration projects in Cornwall and the wider region, it is vital that we have the right infrastructure and skills in place."
The Good Growth investment will support three mining-related projects, which include a critical minerals processing and testing equipment hub with £3.62m of investment from the Good Growth Programme; a £909,672 Good Growth investment to establish a geo-resources cluster development body; and a £192,000 investment to support the planned reopening of the South Crofty tin mine.
The £4.7m total investment in Cornwall’s mining sector by the Good Growth Programme is funded by the Government’s UK Shared Prosperity Fund (SPF). Cornwall has been allocated £132m of SPF funding over three years with investment decisions taken at local level and with a focus on green and inclusive growth.
Last year (2023) Cornish Lithium secured a £53.6m funding package, including £24m from the UK Infrastructure Bank, to continue development of its hard rock Trevalour project in Cornwall where it hopes to produce 8,000 tonnes of lithium hydroxide a year by 2026. At South Crofty, Cornish Metals raised £40m to dewater the mine and complete a feasibility study by the end of 2024.
At Redmoor in South East Cornwall, Cornwall Resources drilled more than 14,000 metres of core samples, which has led to the definition of a globally significant tin, tungsten, and copper resource. While in Devon, Tungsten West is planning to restart production at the Hemerdon tungsten and tin mine, which it estimates to be the world's second largest resource of tungsten, subject to consents and financing.
Meanwhile Tata Group chose a site near Bridgwater in Somerset as the location of a new £4bn gigafactory, creating 4,000 jobs. Combined with the region’s tech metal resources, it means the South West is set to become a key part of a new domestic battery supply chain.
