Cornish Metals Inc has received a grant of up to £4,190,500 for the Bartles foundry project to support production at the South Crofty tin mine project in Redruth, Cornwall.
CONSTRUCTION
The funds are from the Cornwall and Isles of Scilly Good Growth Programme, managed by Cornwall Council, and funded by the UK Government through the UK Shared Prosperity Fund.
The Canadian company said that the foundry project cost £6.8m of which the funding will meet a maximum of 62%.
The money will finance construction of workshops, stores and offices to support South Crofty moving to production and includes the cost the 4.5 acres of land purchased from Cornwall Council.
Chief executive Don Turvey added: “We are delighted to be awarded this grant funding by Cornwall Council, demonstrating ongoing local support for South Crofty and following on from the investment by the UK’s National Wealth Fund earlier this year.
“This funding will enable the construction of the Bartles foundry project that will support South Crofty as we move into the underground development phase, which will provide local employment opportunities during the construction and operational phase.”