Acquisition of UK tin mine could spark mining revival
A tin min in the UK looks set for a rebirth, after a two-decade closure and mostly flooded workings.
The South Crofty tin mine in Cornwall,UK, has been bought out of administration by Canadian company Strongbow Exploration in a mine revival estimated at £100m, according to the Financial Times.
The mine acquisition is being touted as the start of a revival of UK mining, following a boom in commodities and technology over the last decade.
“There is a recognition that we have some important minerals here,” Jeremy Wrathall, a mining analyst at Investec in London to the Financial Times.
“In spite of a long history of mining, there is still plenty to be found using modern techniques and re-examining the old data.”
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