Cornwall tin mine valued at £1.5 billion
We are doing some work in West Cornwall at the moment and I was talking to someone today about plans to clear and interpret what some locals call the old tinners trails across the wonderful rough ground at the very fringes of England. This story demonstrates that Cornwall still has the mineral charms in these strange times that made it a global trading place before the birth of Christ. It also leads me to reflect, including controversial shale gas how certain parts of rural England, in these global economically resource greedy times have their own re-emerging economic assets.
The article tells us:
But with plans afoot to reopen the ancient Cornwall mine, investors have now valued its tin at £1.5 billion.
The reversal of fortunes, thanks to the demand for metal in China and the developing world, is now expected to revive an ancient Cornish industry that stretches back more than 4,000 years.
It will also lift the town of Camborne, one of the most deprived areas of England, out of the economic doldrums when it reopens within the next few years.
The owners of the mine have vowed to invest £7.8 million over the next 12 months in order to prepare the abandoned site for mining once again.
As part of the process, Celeste Copper Corporation (CCC) plans to spend £1.1 million on drilling at the site and £2.6 million pumping water from the flooded mine.