South Crofty critical minerals project, UK
Photo by Cornish Metals
Name of the Project
South Crofty critical minerals project.
Location
Cornwall, UK.
Project Owner/s
Canadian explorer Cornish Metals Inc.
Project Description
South Crofty is in the lowest quartile of the industry cost curve, ranking among the lowest-cost tin producers.
The proposed mine is based on mined throughput of about 500 000 t/y and processing of about 250 000 t/y following preconcentration at an average tin grade of 1.89%.
Production of tin in concentrate is expected to exceed 49 000 t over the 14-year life-of-mine, averaging about 4 700 t/y in the first five years after ramp-up.
Potential Job Creation
The project is expected to create more than 300 direct jobs, and a further 1 000 indirect jobs.
Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 6% (real) discount rate, of £237-million and internal rate of return of 23%.
Capital Expenditure
Preproduction capital is estimated at £198-million, with a payback of 3.3 years.
Planned Start/End Date
First tin production is targeted for mid-2028.
Latest Developments
Cornish Metals has developed a drilling programme that, subject to funding, will start with underground development and continue during production.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Cornish Metals, tel +1 604 200 6664 or email info@cornishmetals.com.
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