Cornish Metals Chief Development Officer Fawzi Hanano talked with Proactive about the company’s South Crofty Tin Mine at the Proactive One2One Investor Forum.
Hanano focussed on the recent £57 million equity financing, which included significant backing from Vision Blue Resources and the UK’s National Wealth Fund. He explained that this funding provides a one-year runway through to March 2026 and will allow Cornish Metals to fast-track key development activities at the South Crofty tin project in Cornwall, England.
He highlighted that early works will include groundworks for the process plant and procurement of long-lead items. Hanano noted, “This fundraise is quite instrumental and it will provide funding for one year and allow us to bring forward additional capital expenditure.”
Hanano discussed the global tin market, underlining growing demand driven by energy transition technologies and AI computing, while supply disruptions in Myanmar, Indonesia and the DRC have tightened the market. “We have about 16% of global mining supply offline,” he said.
Cornish Metals aims to bring the historical South Crofty mine back into production. The company has permits in place, community and governmental support, and a high-grade tin resource. A 2023 PEA outlined a low-cost, 14-year operation with potential to extend mine life significantly through exploration.
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