Three deals in a day for Cornish Metals

Sally Norcross-Webb

Law firm Stephens Scown LLP advised on three new deals that were completed in one day for the Cornish Metals Group.

The three deals signed on Monday (March 8) included an agreement that was 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 was also 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 was 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, mining consultant to Stephens Scown, 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, a partner and head of mining and minerals law at Stephens Scown, added: “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.”

Stephens Scown also acted for the group in its recent AIM listing and oversubscribed £8.2 million fundraise, which completed in February.