New procuction hopes for last working tin mine

Europe’s last working tin mine, South Crofty in Cornwall, could start production again in two years time, the mine’s bosses said today.

When it closed in 1998, the 3,000 foot deep complex near Pool was the last tin mine to be commercially worked in Cornwall.

From today the newly formed Western United Mines Limited will own and operate the mine.

Baseresult Holdings Ltd, which bought South Crofty in 2001, is the majority shareholder in Western United Mines Ltd.

The new company’s director of mine operations, Kevin Williams – who held a similar position with Baseresult – said today: “Experience tells us that we should be able to resume full tin production and that there is potential for a mining life of eighty years.”

South Crofty closed when the tin price was less than a third of the current level, said WUM non-executive director Mark Thompson.

“New uses for tin, particularly in lead-free solder, will keep prices buoyant for many years to come and make an investment in tin mining a very attractive proposition,” said Mr Thompson, chief investment officer with Galena Asset Management, a partner in the new venture.