Portugal’s mining strategy may favour copper over lithium
Portugal already has the largest copper mine in the European Union, operated by Lundin Mining.
Richard Williams has resigned as the chief executive officer of Cornish Metals (LON, TSXV: CUSN). He will leave the company on March 31, but will remain available on a consulting basis going forward.
Ken Armstrong, a non-executive director, will step in as Interim CEO, and Patrick Anderson, chairman of the board, will serve as executive chairman during the transition and search for a permanent CEO.
Armstrong was CEO of the company’s predecessor, Strongbow Exploration, until 2015. He also holds the position of president and CEO at North Arrow Minerals (TSXV: NAR).
Earlier this month, Cornish announced it is accelerating work to reopen a past-producing tin mine at its South Crofty project in southwest England.
The Vancouver-based mine developer said it will expedite plans to refurbish the New Cook’s Kitchen shaft at South Crofty after an assessment revealed the deteriorating condition of its timbers, necessitating immediate action.
The company expects the process of dewatering the mine to be completed by the third quarter of 2025.
South Crofty could produce up to 5,000 tonnes of tin annually, with initial production projected for 2026.
Shares of Cornish Metals rose 3.2% by 11:42 p.m. EDT. The miner has a market capitalization of C$85.6 million ($63.2 million).
