Cornwall Metals obtains $225 million financing intention from the US government to restart century-old tin mine.

Cornwall Metal Company announced on Thursday that the Export-Import Bank of the United States has issued a financing letter of intent worth up to $225 million for the development of the South Crofty Mine. The financing is subject to specific conditions: the mine must provide tin materials supply to the United States. South Crofty Mine has been a large tin mine since the 17th century, and after intermittent mining, it closed in 1998 due to long-term market downturn. Boosted by this news, Cornwall Metal saw its stock price in London surge by 7.8%, reaching a new high since 2023.