Cornwall’s Mining Heritage Revival: Stay Informed with Free Updates
An Overview of Cornwall’s Mining Heritage Revival
Have you ever wondered about Cornwall’s rich mining history and its ambitions to revive its mining heritage? Cornwall, an area that was once the global center for the mining of kaolin, has experienced a decline in mining and manufacturing activity, leaving it as one of the poorest areas in the UK. However, there is hope on the horizon as early-stage mining groups like Cornish Tin and Cornish Lithium are making significant strides towards transforming Cornwall into a major mining jurisdiction for the energy transition.
Cornish Tin Wins Rights to Explore for Precious Metals
Cornish Tin, an early-stage mining group, has recently won the rights to explore for gold and silver from the Crown Estate, marking a significant boost to Cornwall’s ambitions. The Crown Estate, with its multibillion-pound portfolio of land holdings, has granted Cornish Tin six-year options for exclusive precious metals exploration rights in two areas of Cornwall, covering a staggering 14% of the county’s land.
While Cornish Tin is primarily focused on finding lithium and tin, two materials crucial for the transition to renewable energy and electric cars, the discovery of precious metals alongside these strategic elements would further enhance the project’s economic viability. It is important to note that rights to minerals such as lithium are held by private landowners, not the Crown Estate. Sally Norcross-Webb, the chief executive of Cornish Tin, considers this victory as significant as it complements the full range of minerals that the company has the right to mine.
The Role of Cornish Lithium in the Mining Revival
Rival project developer, Cornish Lithium, is also playing a key role in the mining revival in Cornwall. The company has secured lithium exploration rights within geothermal brines off the coast of Cornwall, granted by the Crown Estate. With the growing demand for lithium, which is crucial for the production of batteries, Cornish Lithium’s endeavors could potentially position the UK’s southwest as a major mining jurisdiction for the energy transition.
Other Players in Cornwall’s Mining Revival
In addition to Cornish Tin and Cornish Lithium, other companies like Cornish Metals, Lithium Imerys-British, and western tungsten are contributing to the nascent revival of the mining sector in Cornwall. These companies are investing in exploration and development, with the aim of harnessing Cornwall’s rich mineral resources for the transition to renewable energy and electric vehicles.
The mining sector in Cornwall made its biggest breakthrough in August, when Cornish Lithium secured a $67 million investment package backed by the UK Infrastructure Bank. This state-backed investment will provide the necessary funding for exploration and development activities, bringing Cornwall closer to its vision of becoming a prominent mining jurisdiction.
Cornish Tin: From Mining Rights to Fundraising
Founder Sally Norcross-Webb’s Vision
At the heart of the Cornish Tin project is founder Sally Norcross-Webb, a former mining rights lawyer in the UK. Leveraging her expertise and experience, Norcross-Webb has successfully amassed mineral rights across Cornwall, positioning Cornish Tin as a key player in the county’s mining revival. The company now owns gold and silver mining rights covering an impressive 123,447 acres of land.
A Five-Year Head Start for Cornish Tin
Cornish Tin may be considered a minnow in the mining industry, but it has a significant advantage—the company has at least a five-year head start before commencing production. This head start allows Cornish Tin to focus on multiple rounds of fundraising and exploration to ensure the project’s success.
Clive Newall: A Mining Heavyweight Joins Cornish Tin
In 2021, Cornish Tin welcomed Clive Newall, the co-founder of First Quantum Minerals, as its chairman. Newall’s extensive experience in the mining industry, paired with his investment in the company, brings valuable expertise and the potential to facilitate capacity for Cornish Tin to obtain financing. The addition of a mining heavyweight like Newall further strengthens Cornish Tin’s position in the industry.
Fundraising and Second Investment Programme
Since its inception, Cornish Tin has raised £2.8 million and is now seeking to raise approximately £3 million through a combined private placement and retail investor raising investment. This funding, at a pre-money valuation of £27 million, will support the company’s second investment program, which includes drilling starting next year. The successful completion of this funding round will bring Cornish Tin closer to its goal of extracting precious metals and strategic minerals.
Unique Insights: Navigating the UK’s Mineral Rights System
The Complexities of the UK’s Mineral Rights System
Sally Norcross-Webb, the chief executive of Cornish Tin, sheds light on the intricacies of the UK’s mineral rights system. Unlike in other parts of the world, the mineral rights in the UK are predominantly in private hands, making the process of acquiring licenses considerably more complex and challenging.
This chaotic system poses unique challenges to mining companies seeking to explore and extract minerals. Understanding the nuances of the UK’s mineral rights system is crucial for successful mining operations in Cornwall and beyond.
The Need for Collaboration and Partnerships
In order to navigate the complexities of the UK’s mineral rights system, collaboration and partnerships are essential. By working closely with private landowners, mining companies like Cornish Tin and Cornish Lithium can secure the necessary rights and permissions to explore and extract minerals.
Additionally, collaboration between mining companies, local communities, and relevant stakeholders is vital to ensure that mining activities uphold environmental regulations and protect areas of natural beauty. These collaborative efforts will not only support the revival of Cornwall’s mining industry but also contribute to sustainable development and the preservation of the region’s unique landscape.
Summary
Cornwall’s ambitions to revive its mining heritage have received a significant boost with early-stage mining groups like Cornish Tin and Cornish Lithium leading the way. Cornish Tin’s recent win of the rights to explore for gold and silver from the Crown Estate showcases the county’s potential to become a major mining jurisdiction for the energy transition. In parallel, Cornish Lithium is making significant strides in securing lithium exploration rights, positioning Cornwall as a key player in the battery minerals market.
For Cornish Tin, founder Sally Norcross-Webb’s expertise in mining rights and the addition of mining heavyweight Clive Newall as chairman have solidified the company’s position in the industry. With ongoing fundraising efforts and a second investment program in the pipeline, Cornish Tin is on track to start drilling for precious metals next year.
The complexities of the UK’s mineral rights system pose challenges for mining companies, including the need for collaboration and partnerships with private landowners. By navigating these challenges and working closely with local communities, Cornwall’s mining revival can be carried out sustainably, protecting the region’s landscape and contributing to its economic growth.
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Cornish Tin, an early-stage mining group, has won rights to explore for gold and silver from the Crown Estate in the latest boost to Cornwall’s ambitions to revive its mining heritage.
The monarchy’s multibillion-pound portfolio of land holdings has granted the British company six-year options for exclusive precious metals exploration rights in two areas of Cornwall covering 14% of the county’s land.
Cornish Tin is primarily looking for lithium and tin, two materials considered key to the transition to renewable energy and electric cars, but the discovery of precious metals alongside these strategic elements would help boost the economics of the project. Rights to minerals such as lithium are held by private landowners, not the Crown Estate.
Sally Norcross-Webb, chief executive of the company founded six years ago, said it was a “significant victory as it complements the full range of minerals we have the right to mine”.
Cornwall was once the global center for the mining of kaolin, an input for ceramics, but mining and manufacturing activity in the region has declined, leaving it one of the poorest areas of the UK. largely dependent on tourism.
Rival project developer Cornish Lithium is moving ahead in the race to transform the UK’s south west into a major mining jurisdiction for the energy transition, followed by others including Cornish Metals, Lithium Imerys-British and western tungsten. THE nascent revival of the sector made its biggest breakthrough to date in August, when Cornish Lithium secured a $67 million investment package backed by the UK Infrastructure Bank, a state lender.
Cornish Tin is a minnow with at least a five-year head start before producing anything, which requires multiple rounds of fundraising and exploration.
Founder Norcross-Webb is a former mining rights lawyer in the UK and has used her experience to amass mineral rights across Cornwall.
The company now owns gold and silver mining rights covering 123,447 acres. Within that land mass, it has already signed away rights to all other minerals, from copper and lithium to tin and tungsten, across 3,900 acres, including its flagship Great Wheal Vor project in the old Breage mining district.
Cornish Tin has named Clive Newall – co-founder of First Quantum Minerals, a Canadian copper giant worth $15 billion – as chairman in 2021, adding a mining heavyweight to its board who could facilitate capacity of the company to obtain financing. He also invested in the group.
The company has raised £2.8 million and is seeking to raise approximately £3 million through a combined private placement and retail investor raising investment at a pre-money valuation of £27 million to fund a second investment programme. drilling starting next year.
Norcross-Webb said the Crown Estate’s granting of leasing options highlighted how complex the UK’s mineral rights system is.
“The mineral rights system in the UK is really chaotic. It’s so different from the rest of the world,” he said. “The mineral rights are in private hands and you can’t just ask for a license.”
Some of the areas within Cornish Tin’s mineral rights package include holiday homes and places of natural beauty, according to executives familiar with mining in Cornwall.
Norcross-Webb said the area is predominantly agricultural with mining developments supported by farmers, and any development would protect the landscape as required by local planning policy approved in 2018.
Cornish Lithium was granted lithium exploration rights within geothermal brines off the coast of Cornwall by the Crown Estate in 2021.
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