15 Aug Cornwall tin mine could restart operations in 2018
Canada’s Strongbow Exploration Inc. (CVE:SBW) closed the acquisition of the South Crofty tin mine in Cornwall, England, but operations could restart within two years.
South Crofty is approximately 390 kilometres west of London on the Celtic Sea Coast and was the last tin mine in Europe when it shut in 1998.
Companies tried to receive the mines between 2001 and 2013, but poor market conditions put the mine into administration in 2013.
Strongbow paid US$2 million for 100% of the mining area which includes 26 former producing mines.
Richard Williams, president and CEO of Strongbow said the company “needs to demonstrate to the market that there is potential for long term mining at the site.
“At the moment, it is estimated (for the markets) that there is eight to nine years mine life, but we think that really we will be down there for decades.”
Environmental work on treating and pumping water from the flooded mine is expected to start in September.
Capital expenditure to restart mining would be at least $10 million according to Williams.
Strongbow also owns tin properties in Alaska and base and precious metals projects in Canada.
Almost 10 million tonnes were mined at South Crofty between 1906 and 1998.