Centuries-Old UK Tin Mine Sells 13.5% Bonds to Fund Revival.

The article focuses on Cornish Metals Plc’s recent $210 million bond issuance to fund the reopening of the South Crofty underground tin mine in Cornwall, southwestern England, an industry with origins dating back to the Bronze Age. The bonds, offering a 13.5% coupon, reflect investor confidence despite the company’s lack of credit ratings and the inherent risks. Rising tin prices, driven by demand for electronics and artificial intelligence infrastructure, have increased interest in securing alternative supply chains, particularly in the US, which considers tin a critical mineral. Cornish Metals aims to begin production by mid-2028, potentially providing a low-cost, responsible domestic source of tin amid concerns about ethical issues in major tin-producing countries. [Extracted from the article]