£71m investment to reopen tungsten mine in Devon
Summary
The UK government is investing £71 million into reopening the Hemerdon tungsten and tin mine in Devon. This funding will help restart mining operations, with half of the tungsten produced kept for use within Britain.Key Facts
- The National Wealth Fund will provide £71 million to Tungsten West to reopen the Hemerdon mine near Plymouth.
- The investment includes £36 million in equity and up to £35 million in loans.
- Hemerdon holds one of the world’s largest tungsten deposits.
- Tungsten is important for industries like steel, electronics, aerospace, defense, and energy.
- The government plans to reserve 50% of the mine’s production for UK use.
- The mine aims to reach full production by 2027.
- This investment supports economic growth and job creation in the South West of England.
- The project builds on recent government investments in mining, like funding to reopen a tin mine in Cornwall earlier in 2025.
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