Mining company aims to prove Cornish tin can float (on the London Stock Exchange)
A Canadian mining company with an interest in Cornish tin is aiming to float on the London Stock Exchange’s junior market.
Strongbow Exploration is intending to list in the Alternative Investment Market (Aim) in the first half of next year, while keeping its place on the Toronto Stock Exchange.
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News of the company’s flotation plan comes at a time when Strongbow is aiming to start producing tin again from Cornwall’s South Crofty mine.
Strongbow closed a deal to buy the mine from Galena Special Situations Fund and Tin Shield Production in July. As part of the deal, it took control of Western United Mines Limited, which was placed into administration in 2013, and Cornish Minerals Limited.
Strongbow is aiming to create 200 jobs as part of the project and believes it can start producing tin by 2020.
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The South Crofty tin project is located near the towns of Pool, Camborne and Redruth.
Announcing its investment, Strongbow noted that tin mining in the area dated back to at least 2,300 BC, with South Crofty starting large scale production in the mid-17th century. Its operations shut down in 1998 following the tin price collapse of 1984.
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