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Strategic Minerals secures $9.25M U.S. Department of War funding for UK tungsten

The non-dilutive $9.25 million investment supports Strategic Minerals’ Redmoor project through feasibility studies toward a final mining decision.

Reported · Written up by our desk · Mining

Strategic Minerals said the U.S. Department of War has invested $9.25 million in its wholly owned subsidiary Cornwall Resources Limited to accelerate the company’s Redmoor tungsten-copper-tin project in Cornwall, UK.

According to Mining.com, the funding is intended to cover work through all feasibility studies and move the project toward a final investment decision for mining.

The company said Redmoor is Europe’s highest-grade, undeveloped tungsten resource, and described tungsten as a dense metal used in superalloys for applications including turbine blades, rocket engine nozzles, and armor-piercing military ammunition.

Strategic Minerals added that the investment is non-dilutive and has no restrictions on future funding or offtakes, framing it as support for a secure allied tungsten supply for U.S. and allied advanced manufacturing, defense, and critical minerals supply chains.

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