Cornwall to be prioritised for growth

Chancellor Rachel Reeves has pledged to unlock growth for Cornwall through creating up to 1,300 jobs, thanks to a £28.6 million National Wealth Fund investment to supporting the reopening of South Crofty Tin mine.

This follows the recent Industrial Strategy announcement that is set to boost growth in UK industry, as tin is a critical material used in a wide range of electronic products manufactured by the sector. It is used in solar panels, wind turbines, electric vehicles, and semi-conductors, meaning its demand is increasing as the country races towards net zero.

The chancellor also discussed plans to boost Cornwall’s pubs, clubs, restaurants, and cafe with more alfresco dining and longer opening hours for residents and tourists, as part of the Small Business Plan.

Chancellor Rachel Reeves said: “Despite having so much potential to grow, Cornwall has been neglected by successive governments, and its families and businesses have suffered as a result. 

“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.

“Our investment to revive Cornwall’s proud tin mining industry and the thousands of jobs it will create for years come is one way we are renewing the country, and there is more to come in our Plan for Change.”

Don Turvey, CEO 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.

“Tin is a critical mineral for the clean energy transition, essential to electronics, electric vehicles and renewable infrastructure. By reviving domestic production at South Crofty, we’re not only creating over 300 direct jobs but also supporting many more across local supply chains and regional businesses.

“Our focus remains on delivering long-term, sustainable value safety, responsibly, and with deep roots in the community. We’re proud to be playing a role in bringing responsible tin mining back to Cornwall and supporting economic renewal and industrial growth in the region.”