£71m investment to reopen tungsten mine in Devon
The UK government is investing £71 million into Tungsten West to help reopen the Hemerdon tungsten and tin mine in Devon. The funding aims to secure domestic supply chains for critical minerals used in defense and electronics.
Why it matters
This investment reflects a strategic shift toward domestic resource security and industrial independence in the face of global supply chain volatility.
Image source, Tungsten West Image caption, The government has invested £71m into Tungsten West
More than £70m of public money will be invested into a mining company to help restart production, the Chancellor has said.
The Hemerdon tungsten and tin mine in Devon will receive up to £71m from the National Wealth Fund to resume operations at the mine near Plymouth.
Chancellor John Healey said it meant Britain could tap into one of the world's largest deposit of the mineral which is used in steel, electronics and aerospace industries. The government said it would ringfence 50% of the production for use in Britain.
The financing consists of a £36m equity investment alongside up to £35m of lending to help Tungsten West restart production.
Image source, Tungsten West Image caption, The National Wealth Fund also invested in Cornish Metals in January 2025
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