Cornish Metals posted a loss for last year but boss Richard Williams maintains it is still on track to restart Cornwall’s famous South Crofty tin mine.
In an update the firm, which listed in February, said losses widened to £1.8million in 2021 from £1million in 2020.
It is ploughing ahead with plans to open the mine after securing £40.5million in funding from investors in March. Mining titan Sir Mick Davis’s Vision Blue Resources was among backers.
Tin man: The Cornish mining industry was the focus of Winston Graham’s Poldark novels, which were adapted into a TV series starring Aidan Turner (pictured)
Williams said: ‘After the successful listing on AIM in early 2021, I am delighted with the progress which the company has made across.
I look forward to reporting on progress at South Crofty and the substantial benefits this will bring to Cornwall and the UK mining industry.’
Cornish Metals hopes to start a new Poldark era of mining. Cornwall and neighbouring Devon have been mined for more than 4,000 years.
The industry was the focus of Winston Graham’s Poldark novels which were adapted into a TV series starring Aidan Turner.
South Crofty, near Redruth, was the last Cornish mine to close in 1998.
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