19th Jul 2023 10:52
(Alliance News) - Cornish Metals Inc on Wednesday said that it has installed a second submersible pump at the South Crofty tin project in Cornwall, England.
Cornish Metals is a Vancouver, Canada-based mineral exploration and development firm focused on the UK and North America. Shares in the company were up 15% at 13.50 pence each in London on Wednesday morning.
Following the installation of the second pump, commissioning of the variable speed drives to operate the pumps has now begun.
Additionally, Cornish Metals has entered a 15-month supply contract with NPower Ltd for the provision of 100% renewably-generated power. This allows the firm to advance through the mine dewatering phase with certainty over power costs.
"These are all significant milestones for the project as we advance South Crofty towards a production decision. The team at site has done an excellent job installing the second pump ahead of the estimated timeframe. Also, securing a 100% renewable power contract was important as we demonstrate our commitment to the reduction of greenhouse gases from the project as much as possible," said Chief Executive Officer Richard Williams.
By Holly Beveridge, Alliance News reporter
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