Reeves backs Cornish tin revival during visit

Chancellor Rachel Reeves joined staff at Cornish Metals during a visit to the county

Chancellor Rachel Reeves has visited a tin mine expected to reopen with government backing during a trip to Cornwall.

She said a previously announced £28.6m National Wealth Fund investment to Cornish Metals, which is seeking to reopen the South Crofty tin mine, could create up to 1,300 jobs.

Reeves said the investment at sites like South Crofty "are so vital because the critical minerals that we can extract here can support industry right across the country and reduce our reliance from imports overseas".

The chancellor also visited other Cornish businesses.

South Crofty's owner has welcomed the investment

The chancellor said it was important to help grow industries like clean power, electric vehicles and support defence capabilities.

"Critical minerals and clean energy as well are going to be absolutely essential if we're going to become more resilient and more secure as a nation."

She said: "Cornwall has been neglected by successive governments, and its families and businesses have suffered as a result."

The chancellor responded to criticism that the county felt "forgotten about".

She said the national wealth fund "shows that we are absolutely focused on projects in Cornwall" and said "there's lots more to come".

She said increased defence spending offered "big opportunities" for the port of Falmouth and businesses.

The chancellor said "we do understand" the concerns of businesses.

She said the government was reforming business rates to help small businesses and had "lifted almost a million businesses from paying National Insurance altogether".

She said there had been a "huge hole" in the public finances when she became chancellor and she had taken difficult decisions to protect public services.

The reopening of South Crofty is expected to create more than 300 jobs.

The Treasury estimated it could create 1,000 more as it fuels UK supply chains.

'Unlock growth'

It would support the UK's domestic tin supply amid increased demand for use in solar panels, wind turbines, electric vehicles, semi-conductors and energy storage increases.

"Like in every part of the UK, I am determined to unlock growth that creates jobs and puts more money in Cornish people's pockets," said Reeves.

"Our investment to revive Cornwall's proud tin mining industry and the thousands of jobs it will create for years to come is one way we are renewing the county."

Don Turvey, chief executive of Cornish Metals, said: "We are honoured to welcome the chancellor to South Crofty and proud to showcase the significant progress we're making as we move toward production.

"The UK government's £28.6m investment via the National Wealth Fund is a powerful vote of confidence in our project and the future of Cornwall's mining industry."

The chancellor is also visiting ship repair business A&P Falmouth, the Harbour Lights fish and chip shop in Falmouth and heat pump manufacturer Kensa in Truro.