Germany launches raw materials fund to strengthen supply chains
The German government is launching a $1.1 billion fund for investment in raw materials.
A construction crew has found the entrance to an ancient tin mine, with the opening measuring around 10m (32ft) long, while preparing a stretch of land for the new St Austell to A30 link road in Cornwall, England.
The visible part of the massive crater, Cornwall Live reported, leads to a black hole at one end of the crevice, which could potentially be the start of the mine shaft, extending deep underground.
“Given Cornwall’s rich mining history, it’s not uncommon to discover unmapped mining features during construction,” a spokesperson for the Cornwall Council told the paper.
“We have recently uncovered two such features along the route, and investigations are underway to determine the best course of remediation,” the person said.
Tin mining in Cornwall can be traced back to around 2100 BC. This was during England’s Bronze Age, in which demand for copper and tin surged.
By the 19th century, Cornwall was the world’s top producer of tin, copper and other base metals, accounting for two-thirds of the market.
Now part of the UK’s critical metals list, tin is experiencing a revival. Canada’s Cornish Metals (LON, TSX-V: CUSN) is working on reopening the past-producing South Crofty tin mine, which was shut in 1998 following more than 400 years of almost continuous production.
It was the last tin mine in Europe when it closed. Several companies attempted to revive the flooded mines between 2001 and 2013, but due to persistent poor market conditions, the assets were put into administration in 2013.
The new South Crofty is expected to produce 49,310 tonnes of tin metal in concentrate over its productive life, peaking at over 5,000 tonnes in year four.
The goal is achieving first tin production by 2027, as Cornish Metals has already obtained permission for underground mining until 2071, and has also secured the environmental permit to dewater the mine.
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