Western United Mines has appointed Wilkins Kennedy as administrator of an historic Cornish tin mine to safeguard the mine’s assets while they seek new investment.
David Tann, John Kirkpatrick and Keith Stevens, partners at top 20 firm Wilkins Kennedy have been appointed as administrators of South Crofty Mine.
The recent appoint follows Celeste Mining Corporation’s recent failure to fund the mine in accordance with its contractual agreement with Western United Mines, who purchased the mine in November 2007.
Celeste was served with a default notice on 5 June for failing to meet its obligations, but has still not made any payments in line with its agreement.
South Crofty Mine has recently faced several challenges to its operations, which have made it difficult for the mine to attract the investment it needs. These include UNESCO’s objections to mining operations taking place in the Cornwall and West Devon Mining Landscape, which is designated as a World Heritage Site.
Western United Mines believes the mine has between 8 million and 16 million tonnes of ore at grades between 1.2% and 1.8% tin.
The metalliferous tin and copper mine, which dates back to 1592, is fully permitted for both development and operations.
Full-scale mining started in South Crofty in the mid-17th century. The mine went into serious decline after 1985 and eventually closed in 1998. After several proposed developments for the site, its future is currently uncertain.