We are delighted to have advised on three new deals, completed in one day, for the Cornish Metals Group by Sally Norcross-Webb, mining consultant.
The deals were completed on 8 March 2021, and the firm also acted for the Cornish Metals Group in its recent AIM listing and oversubscribed £8.2 million fundraise, which completed in February.
The three deals signed on 8 March were:
- An agreement that has been reached with Brownfield Investments Ltd and Roskear Minerals LLP to lease a 1.2 hectare site surrounding New Roskear Shaft in Camborne for up to 23 years;
- An agreement has also been reached to lease the mineral rights owned by Roskear Minerals LLP within the South Crofty Underground Permission Area for up to 25 years; and
- A binding heads of terms has been agreed with Wheal Jane Ltd for the disposal of waste material derived from the treatment of mine water from South Crofty Mine into the Wheal Jane tailings dam located 12 kilometres east of South Crofty. The agreement will become effective when dewatering of South Crofty commences.
Commenting on the transactions, Sally Norcross-Webb said:
“These are important steps towards the future progress and dewatering of South Crofty Mine, and we have again been delighted to assist management in achieving these significant milestones”.
Simon Trahair-Davies, partner and head of our mining and minerals team, commented:
“With our unique heritage within the mining and minerals sector and our ongoing relationship with the Cornish Metals Group, we’re delighted to be able to continue our support as the company works towards the redevelopment of South Crofty Mine and the United Downs Project.”
Our Mining and Minerals team have worked side by side with the mining and minerals sector for over 80 years, giving their minerals clients the benefit of their technical, commercial and legal knowledge while helping clients to overcome challenges specific to the industry.