Mentioned:
A publicly traded company with a tin mine in England just landed a mega funding commitment from the American government. But, why?
What’s happening:
- Cornish Metals (AIM: TIN) has received a letter of interest from the United States Export-Import Bank for up to $225M USD in new funding to restart their South Crofty tin mine located in Cornwall, England
Why it matters:
- Cornish Metals’ South Crofty project is widely considered to be the highest grade tin deposit in the world that is not currently in production
Going deeper:
- Cornish Metals has already secured permits to begin mining at South Crofty as well as to build a new processing plant and infrastructure directly on site
- The United States Export-Import Bank has publicly stated that their funding committed is conditional based on Cornish Metals ensuring they will supply tin primarily to American companies
The intrigue:
- The demand for tin has begun to dramatically ramp up globally as it is an essential input for many electronics including hardware for high performance computing and large scale data centres for artificial intelligence workloads
