The National Wealth Fund has committed up to £71 million to Tungsten West to restart the Hemerdon tungsten and tin mine near Plymouth. The investment includes equity and debt financing to support the return to full-scale production targeted for Q1 2027, with the UK Government securing procurement rights over half the mine’s output. The National Wealth Fund is providing £36 million in equity investment and up to £35 million in debt financing to Tungsten West to bring the Hemerdon mine back into operation. The site, located on the outskirts of Plymouth, is expected to create around 350 direct jobs once…
