Cornish Metals Raises £56 million to Advance South Crofty

Cornish Metals successfully raised £56 million for its South Crofty Tin Project in Cornwall, including a landmark £28.6 million direct equity investment from the UK’s National Wealth Fund

In January 2025, Cornish Metals announced it had successfully raised £56 million for its South Crofty Tin Project in Cornwall, which included a landmark £28.6 million direct equity investment from the UK’s National Wealth Fund (NWF). The funds will be used to further de-risk South Crofty and support ongoing work to bring the mine back into production.

The significant fundraise underscores the project’s national strategic importance, especially with regards to securing the future of domestic tin production. Beyond creating over 300 direct jobs, South Crofty’s revival is set to play a crucial role in supporting the UK’s net-zero transition by providing a secure domestic supply of a critical mineral essential to the manufacturing of semiconductors, renewable energy infrastructure, and electric vehicles.

The NWF’s backing not only validates the strategic importance of tin as a critical mineral for the UK’s sustainability goals, but also reinforces confidence in Cornish Metals’ long-term potential. The funding will be used to carry out critical project works, including mine shaft refurbishment, continued dewatering operations, and securing long-lead equipment – all essential steps in preparing South Crofty for full-scale operations.

The revival of South Crofty is expected to inject new life into the local economy, bolster regional economic resilience, and help establish Cornwall as a key player in the UK’s critical minerals supply chain. The project also aligns with the NWF’s broader strategy and commitment to reducing reliance on foreign imports and securing a domestic supply of essential resources, particularly for the renewable energy and advanced manufacturing sectors.

Following the announcement of the fundraising, BlytheRay successfully orchestrated a communications campaign which delivered high-profile media coverage in national and regional outlets, including BBC Radio 4, BBC Spotlight, ITV West Country, The Times, The Telegraph, and City AM, amongst others. This strategic media outreach maximised the reach and impact of the fundraising news, further strengthening Cornish Metals’ position as a key player in the UK’s push for critical minerals independence.

With strong financial backing, growing government support, and a robust communications strategy in place, Cornish Metals is well-positioned to continue to progress South Crofty towards production, ensuring that Cornwall remains at the heart of the UK’s mining resurgence.