TSX-V-listed Strongbow Exploration reported on Thursday the Cornwall Council had voted in support of a £1-million investment into the company, subject to a listing on London’s Alternative Investment Market (Aim) Exchange.
“We welcome this positive decision for the project, which reflects the high level of cooperation between the local community, Cornwall Council and Strongbow, where all parties share the common goal of responsible mine development in an urban environment and high-quality job creation.
“We look forward to advancing the project to a production decision,” noted Strongbow CEO Richard Williams.
Cornwall Council planning and economy cabinet portfolio holder Bob Egerton said Cornwall had a global reputation for exporting expertise and knowledge in mining and the council was clear in its desire to support this sector to re-start production in the English county.
“If successful, restarting mining at South Crofty could create more than 300 jobs and make a real difference to an area with high levels of deprivation.”
South Crofty is a former producing copper and tin mine located in the towns of Camborne and Pool.
In 2016, Strongbow published a mineral resource estimate on the project and in 2017, a preliminary economic assessment.
The company is now focused on completing the listing on the Aim and completion of a water treatment plant so that the mine can be dewatered. Strongbow plans to bring the project to a production decision and complete a feasibility study in parallel with the mine dewatering process.