Cornwall flies the flag for UK mining following government’s critical minerals strategy announcement

A little over a week after the government unveiled its critical minerals strategy, which supports the domestic production of lithium, tin, tungsten and rare earth elements, a delegation from Cornwall will travel to London to showcase the region’s depth of mining resources, its world-leading mining expertise, and emerging opportunities that exist to harness both geothermal power and critical minerals from its unique geology.

Taking one of the largest stands at Resourcing Tomorrow – Europe’s biggest and most influential mining event – representatives from Cornwall will highlight the investment, exploration and extraction opportunities that exist in the region, spanning critical minerals, geo-resources and mined materials that are key to energy transition and sustainable development, and which are vital for smart phones, electric vehicles and data centres that power artificial intelligence.

Following the government’s critical minerals strategy announced on Saturday 22 November, which seeks to ensure no more than 60% of any one critical mineral comes from a single partner country by 2035, Resourcing Tomorrow represents a huge opportunity for Cornwall.

Under the strategy, which highlights Cornwall and Devon as key critical mineral contributors, the UK aims to meet 10% of mineral demand for clean energy, defence, advanced manufacturing, transport, and life sciences through domestic extraction. This includes producing at least 50,000 tonnes of lithium, supporting a sector where UK demand is forecast to grow by 1,100% by 2035, while demand for copper is expected to almost double. Forming part of the government’s national security agenda, the strategy also focuses on increasing production of domestic tin, tungsten, and rare earth elements, further underscoring the strategic importance of the South West in strengthening the UK’s resilient, low-carbon supply chains.

Flying the flag for the region at the Cornwall Pavilion (Stand E10) will be a delegation led by Cornwall Trade and Investment, and Cornwall Mining and Geo-Resource Alliance. Delegates on the stand include Cornish Lithium, Cornish Metals, Cornwall Resources, Cornish Tin, Paterson & Cooke, SLR Consulting, Geothermal Engineering Ltd, and Neo Geo Consulting. The University of Exeter’s Camborne School of Mines will also be exhibiting at the event, opposite the Cornwall Pavillion.

Across the three days of Resourcing Tomorrow, Cornwall’s businesses will have the opportunity to attract funding, secure investment and develop connections with an international audience spanning more than 100 countries. This includes meeting policymakers and government representation from across the globe – covering Europe, USA and the UAE. 

Cornwall will also have a seat at the international Government Roundtable, which takes place on the eve of Resourcing Tomorrow. Here, international delegations will gather to discuss how governments, the mining industry, and financial institutions can collaborate towards meeting the urgency of energy transition timelines. Cornwall’s attendance, alongside national and international government, highlights the importance that the region has to play in the nation’s green energy transition.

Geothermal power

New for this year, experts and industry leaders will highlight Cornwall’s significant potential for deep geothermal power production, and the part this has to play in meeting the UK’s future energy needs.  

With demand for energy set to increase 2.5 times by 2050 - due in part to energy intensive data centres - if the UK is to retain its position as the third largest AI market globally, it needs to find ways of rapidly generating reliable energy at scale.

Ola Zawalna, Strategic and Business Manager for the Cornwall Mining and Geo-resource Alliance, commented: "The Southwest’s Cornubian Granite Batholith is one of the UK’s most promising geothermal resources, with temperatures reaching 180°C at 5km depth. Cornwall is developing pioneering projects to generate heat, cooling, and electricity alongside lithium extraction, and geothermal energy to power mining and processing operations.”

With the potential to deliver thousands of future jobs, greater domestic energy security, and heat for local homes and industry as a biproduct, Cornwall is pushing for geothermal energy to be championed, helping to secure investment in a similar way to the US where big tech companies such as Google are now partnering with developers to achieve geothermal energy at pace.

Commenting on the vast potential for geothermal energy in Cornwall, Caroline Carroll, Senior Trade and Investment Manager at Cornwall Trade and Investment, said: “Recent advancements at the US FORGE programme in Utah, mean that previous barriers to geothermal energy are falling rapidly.

“Here, costs for well drilling have been cut by 60%, drilling speeds have increased by 5 times, and well outputs have increased by 300%. Consequently, levelised costs for geothermal projects coming online in 2028 are estimated to be $37.58 MWh by the US Department of Energy.

“At this price, geothermal has the potential to provide competitively priced baseload power to data centres, critical mineral exploration and processing. Requiring minimal land use, with low visual and environmental impact, and now comparatively quick exploration and extraction timeframes, deep geothermal energy production represents a vital future solution to the country’s and region’s growing energy needs. And with the help of the geo-resource sector and Cornish experts that have been involved in the US FORGE project, we believe that Cornwall has the potential to become a strategic geothermal national asset.”

Caroline Carrol added: “On top of this, geothermal energy also has the benefit of providing increased access to critical minerals that are pivotal to energy transition, including lithium extracted from brines. This is a process that is being pioneered by Cornish Lithium, and separately by Geothermal Engineering Ltd at its United Downs Deep Geothermal Power project, which is set to become the UK’s first to generate electricity alongside lithium extraction.”

Perran Moon, Member of Parliament for Camborne, Redruth and Hayle, added: “The launch of the Critical Minerals Strategy is truly a watershed moment for the domestic critical mineral's sector. It presents an opportunity to secure investment, skills and economic growth for Cornwall, and to ensure the region’s businesses and natural assets play a vital role in the UK’s energy transition.”

Businesses can find out more about Cornwall Trade and Investment’s work to help promote and support Cornwall’s commercial interests by visiting www.cornwallti.com