§ 47. Mr. Matthew TaylorTo ask the Secretary of State for Trade and Industry if he will make a statement on the tin mining industry in Cornwall.
§ Mr. Douglas HoggThe respective managements have decided to cease operations at the Geevor tin mine immediately and at the Wheal Jane tin mine at the end of the year. These decisions appear inevitable given the prevailing low tin prices and the absence of indications of the substantial and sustained improvement in the tin price required for these mines to continue in production.
The remaining tin mine, South Crofty, has been the subject of a major capital investment programme designed to lower costs. This had been assisted by substantial DTI 961W loans. That investment programme, and the geological conditions of the mine, mean that South Crofty is better placed to withstand low prices.