Cornwall Resources Ltd said it expected to receive government funding in the future to develop its tin-tungsten project at Redmoor in Cornwall.
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In December, the company applied to Cornwall and Isles of Scilly Council (CIS) for a grant from the Shared Prosperity Fund.
Cornwall Resources said that regardless of whether its application was successful, Redmoor would at some stage receive government funding because the project was within the Government’s Critical Minerals Strategy.
Redmoor would also create jobs and also benefit from the Government’s ‘Levelling Up’ policy.
“With a potential LCCM funding pathway identified, the company now awaits the outcome of its grant application to assess the scope of its operations at Redmoor in 2023,” added John Peters, managing director of parent company Strategic Minerals.