Canadian mining company Strongbow to list on AIM

 
Oscar Lopez
BRITAIN-TOURISM-MINING-METAL
Canadian company Strongbow is planning to recommence mining of tin in Cornwall. (Source: Getty)

Canadian mining group Strongbow is set to list on the AIM next month, the company announced today.

The moves comes after Strongbow acquired the rights to the South Crofty tin mine in Cornwall.

The company said it was hoping to raise £25m over the next 18 months in order to “progress to a production decision.”

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The historic South Crofty mine dates back to 1592 and was the last tin mine to close in the UK in 1998.

The company said that the global tin industry has changed substantially since then, and that “South Crofty has the potential to become an operating mine once again.”

The Canadian company is hoping to begin production in the mine in 2021, and has the necessary permits in place to do so.

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Richard Williams, Strongbow’s CEO, said: "Strongbow has achieved a great deal since acquiring the South Crofty project in July 2016, and its planned admission to AIM, which is the next step in the Company's strategy, is a very exciting development.

“The global demand for tin, especially in consumer electronics, combined with current tin price forecasts, underpins Strongbow's strategy.

"I would like to take this opportunity to thank our existing shareholders for providing us with the support to reach this milestone."

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