A new company has been formed to re-open and operate the South Crofty tin mine in Cornwall, UK. Western Union Mines Ltd will invest in tunnelling and exploration drilling activities, and more than UK£50 million ($104.1 million) of investment has been earmarked by the time production is due to restart at the end of 2009.
“Experience tells us that we should be able to resume full tin production and that there is a potential for a mining life of 80 years,” said Kevin Williams, managing director of Mine Operations at Western Union.
Western Union Mines is majority owned by Baseresult Holdings, which bought South Crofty in 2001. The other shareholder is Cassiterite LP, an investment vehicle for global commodity trader Trafigura Beheer, among others.
South Crofty closed in March 1998, having produced 2,250 tonnes of tin-in-concentrate in its last full year of operation.
