Cornish Tin
The Strategic Importance of Tin and Lithium Exploration
A little while ago I made a small investment in Cornish Tin on Crowdcube.
My Crowdcube track record isn’t great. Of my 12 investments two have gone into receivership, but I know it’s the risk you take with early-stage investments. My investment in Bolt is one that I hope is commercially savvy. That was my intention.
My investment in Cleaner Seas was simply to support an organization reducing the microplastics entering our rivers and seas. My investment in Shackleton, the Arctic expedition grade clothing company was simply because Ernest Shackleton is one of my heroes. It’s not an investment strategy that Warren Buffet and Charlie Munger would recognize.
My investment in Cornish Tin was in part because I’d like to see people in Cornwall have access to more well-paid permanent jobs, but mainly because I believe it is strategically important. Not that this guarantees success. Mining is speculative.
But my rationale is that our world is increasingly defined by technological advancement and the urgent shift toward sustainable energy, the exploration and extraction of critical metals like tin and lithium have taken on heightened strategic importance. Cornish Tin, a UK-based mineral exploration company, recently announced significant developments in its operations, including the addition of major new lithium acreage at Tregonning South in Cornwall and updates on its tin potential. These discoveries underscore Cornwall’s re-emergence as a key player in the global supply chain for metals essential to modern life.
But why do tin and lithium exploration matter so much as a strategic priority, not just for Cornwall or the UK, but for the world at large?
The Resurgence of Tin: A Quietly Critical Metal
Figure 1: Metals Most Impacted by New Technology (Source: Rio Tinto)
Tin may not get the same headlines as gold or lithium, but its role in modern technology is indispensable. Historically mined in Cornwall since the Bronze Age, tin’s relevance has evolved far beyond its traditional uses in alloys like bronze. Today, it is a vital component in electronics, particularly as a key ingredient in solder—the material that binds circuits in everything from smartphones to electric vehicles (EVs) and solar panels. As the global economy pivots toward renewable energy and electrification, demand for tin is surging.
The International Tin Association has highlighted tin’s potential in emerging energy technologies, including lithium-ion batteries, where it could enhance performance as part of advanced anode materials. With tin prices rebounding after decades of decline, prompting efforts to reopen historic mines like South Crofty, Cornish Tin’s exploration updates signal a timely opportunity. Strategically, securing domestic tin supplies reduces reliance on imports, particularly from geopolitically unstable regions like Southeast Asia and Central Africa, where much of the world’s tin is currently sourced. For the UK, a robust tin industry could bolster economic resilience, create jobs, and position the country as a contributor to the global tech supply chain.
Lithium: The Backbone of the Energy Transition
While tin’s importance is often understated, lithium’s starring role in the energy transition is unmistakable. Dubbed “white gold” for its critical use in lithium-ion batteries, it powers EVs, grid-scale energy storage, and portable electronics. As nations race to meet net-zero carbon emissions targets—such as the UK’s 2050 goal—lithium demand is projected to skyrocket. The Faraday Institution estimates that UK demand for lithium carbonate could exceed 70,000 tons annually by 2035, driven largely by the shift away from internal combustion engines.
Cornish Tin’s expansion into lithium acreage at Tregonning South aligns with parallel efforts by companies like Cornish Lithium, which has already identified high-grade lithium deposits in Cornwall’s geothermal waters and hard-rock granite. Currently, the UK imports all its lithium from distant producers like Australia, South America, and China. This dependence exposes the country to supply chain vulnerabilities, including price volatility and geopolitical tensions. Developing a domestic lithium supply is thus a strategic imperative, not only to support the UK’s growing battery industry, evidenced by projects like Envision’s Sunderland factory, but also to enhance national security by reducing reliance on foreign powers.
Cornwall’s Unique Position
Cornwall’s geological riches make it uniquely suited to address these strategic needs. The region’s granite formations are naturally enriched with lithium, while its historic tin mines and geothermal waters offer untapped potential for co-production. Cornish Tin’s latest discoveries build on this legacy, leveraging modern exploration techniques to unlock resources that were overlooked or uneconomical in the past. The area’s mining heritage also fosters a supportive local culture, with institutions like the Camborne School of Mines and a skilled workforce ready to revive the industry.
Moreover, Cornwall’s potential extends beyond raw materials. The integration of lithium and tin extraction with renewable energy projects, such as geothermal power, offers a model for low-carbon mining. This synergy could position the UK as a leader in sustainable resource development, aligning economic growth with environmental goals.
Strategic Implications for the UK and Beyond
The strategic importance of tin and lithium exploration in Cornwall cannot be overstated. For the UK, it’s about more than just economic opportunity, it’s about sovereignty. A domestic supply of these metals reduces exposure to global supply shocks, such as those seen during the COVID-19 pandemic or amid trade disputes. It also strengthens the UK’s negotiating power in international markets and supports its industrial strategy as it builds a homegrown EV and renewable energy sector.
Globally, Cornwall’s re-emergence as a mining hub could help diversify the supply of critical metals, currently concentrated in a handful of countries. China, for instance, dominates lithium processing and tin production, giving it significant leverage over global markets. By contributing to a more distributed supply chain, Cornish Tin’s efforts could enhance stability and competition, benefiting industries worldwide.
Challenges and Opportunities Ahead
Of course, exploration is just the beginning. Scaling up production will require significant investment, infrastructure, and regulatory support. Cornish Tin and its peers must navigate environmental concerns, though Cornwall’s history suggests a higher tolerance for mining than in other parts of the UK. Community engagement will be key to balancing economic benefits, like the hundreds of jobs promised by such projects, with local impacts.
The stakes are high, but so are the rewards. Cornish Tin’s new discoveries at Tregonning South and its focus on both tin and lithium highlight Cornwall’s potential to reclaim its place in the industrial world. As the UK and the globe grapple with the demands of a tech-driven, low-carbon future, these metals are not just commodities, they are strategic assets. By investing in their exploration and extraction, Cornwall could help secure a more resilient, sustainable, and self-reliant tomorrow.
And maybe it might prove to be a good investment!
Reference
Massachusetts Institute of Technology (MIT) research for Rio Tinto, 2018: Cornish Tin - The Great Wheal Vor Project, Cornwall, UK
Footnotes
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My latest book, Delivering Social Value in Urban Development, a collected series of essays, is published through Kindle Direct Publishing and available on most Amazon portals.