Strategic Minerals chairman reports on "very comprehensive" Redmoor site visit
London, UK
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July 19, 2023 10:15 AM Eastern Daylight Time
Strategic Minerals PLC (AIM:SML, OTC:SMCDF) Chairman Alan Broome speaks to Thomas Warner from Proactive London during a visit to the UK, where he's just completed a "very comprehensive" visit to the Redmoor Tin and Tungsten Project in Cornwall.
He reports on recent developments in the tin and tungsten markets and progress in bringing the Project into production. He says that the company recently submitted a comprehensive grant application to local authorities, which was not supported - however, Strategic Minerals has been encouraged them to resubmit a modified application for the next round in early August. Broome also highlights that Both tungsten and tin have been classified as critical minerals globally, gaining significant importance due to their uses in various industries, including electric vehicles and armaments.
The United States indicated that the UK may be recognised as a domestic source of tungsten, potentially attracting new investments. He describes the Redmoor project as the world's largest undeveloped underground tungsten asset.
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