Cornish Metals Inc. aims to redomicile from Canada to the United Kingdom during December 2025.
INVESTMENT
The Canadian company said it had today entered into an agreement with Cornish Metals plc, subject to approvals.
Cornish Metals made the decision to redomicile by 24 March 2026, following the £28.6 million investment by National Wealth Fund Ltd, as part of a £56m fundraise in January 2025.
The company is preparing to restart production at the South Crofty tin mine in Pool, Cornwall.
Chief executive officer Don Turvey added that the move would simplify the company’s structure and better align its strategic and operational focus.
“We expect to benefit from reduced regulatory, legal and other costs associated with the dual-listing, improved liquidity of the single quotation on AIM and reduced transaction and overall complexity, which is paramount as we advance the project finance process.
“We value our Canadian shareholders and hope that they will continue to support the company on our journey towards becoming an important western world tin producer.”
British taxpayers fund the National Wealth Fund Ltd, formerly the UK Infrastructure Bank, which holds around £27.8 billion.