Reeves backs Cornish tin revival with £28.6m boost

Chancellor Rachel Reeves will visit a tin mine due to be reopened with government backing during a trip to Cornwall.

She said the £28.6m National Wealth Fund investment to Cornish Metals, which is seeking to reopen the South Crofty tin mine, could create up to 1,300 jobs.

The chancellor will also visit other Cornish businesses and is set to hail plans to boost the region’s pubs, clubs, restaurants and cafes by allowing more al fresco dining and longer opening hours.

“Despite having so much potential to grow, Cornwall has been neglected by successive governments, and its families and businesses have suffered as a result,” the chancellor said.

The reopening of South Crofty is expected to create more than 300 jobs and The Treasury estimates it could create 1,000 more as it fuels UK supply chains.

It would support the UK’s domestic tin supply amid increased demand for use in solar panels, wind turbines, electric vehicles, semi-conductors and energy storage increases.

“Like in every part of the UK, I am determined to unlock growth that creates jobs and puts more money in Cornish people’s pockets,” said Reeves.

“Our investment to revive Cornwall’s proud tin mining industry and the thousands of jobs it will create for years to come is one way we are renewing the county.”

Don Turvey, chief executive of Cornish Metals, said: “We are honoured to welcome the chancellor to South Crofty and proud to showcase the significant progress we’re making as we move toward production.

“The UK Government’s £28.6 million investment via the National Wealth Fund is a powerful vote of confidence in our project and the future of Cornwall’s mining industry.”

The chancellor is also due to visit ship repair business A&P Falmouth, the Harbour Lights fish and chip shop in Falmouth and heat pump manufacturer Kensa in Truro.