King Charles gives start-up 'significant win' as he grants six-year contract to mine on his estate
King Charles gives start-up permission to mine gold and silver in Cornwall
PA
A mining start-up has got permission from King Charles’s Crown Estate to explore gold and silver across Cornwall.
The company, called Cornish Tin, said it has secured a six-year lease option agreement to mine across 123,000 acres of land.
The Royal Family’s land and property portfolio is worth £15billion, which is a staggering amount.
Cornish Tin will begin exploring precious metals in Cornwall, with the hope of eventually switching to renewable energy and electric vehicles.
Cornish Tin has received a lease from The Crown Estate
PA
Cornish Tin’s founder and chief executive, Sally Norcross-Webb, said the lease from the Crown Estate will lead to many other mining opportunities in the region.
Norcross-Webb said: “This is a significant win. We are not expecting it to have an immediate impact on the valuation of the company – but it is a long-term, strategic move for us.”
Most natural forms of gold and silver that are mined in Britain (with the exception of Scotland) automatically fall under the authority of The Crown Estate.
Therefore, miners must get permission from the King, should they wish to extract deposits of gold and silver.
The Royal Family’s land and property portfolio is worth £15billion
PA
Cornish Tin now has the exploration rights for gold and silver in the region for up to 42 years.
The company has separately secured rights to explore tin, lithium, copper and tungsten within the same area.
Cornish Tin believes they will now have access to “significant” resources that were previously unexplored.
The company is one of several wanting to revive mining in the area.
Cornish Tin has secured a six-year lease
PA
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Cornwall has 'significant' previously untapped natural resources
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It was famously portrayed in the Poldark television series and novels.
Cornwall now has the chance to be reinvented as a source of critical minerals needed for the green revolution.
This could help explain why King Charles has granted the firm permission, as he is especially invested in finding solutions for climate change.