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UK backs £71 million Hemerdon mine restart for tungsten

8/27/2026

27 4 Full Breakdown

Summary

Story summary

Chancellor John Healey announced £71 million public investment to restart the Hemerdon tungsten and tin mine in Devon.
The National Wealth Fund will provide £36 million equity and up to £35 million loan to Tungsten West.
Half of the mine’s output will be ring-fenced for British use.
Oliver Holbourn said Hemerdon holds the world’s largest nearby tungsten deposits, vital for defence and aerospace.

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Story summary

Chancellor John Healey announced £71 million public investment to restart the Hemerdon tungsten and tin mine in Devon.
The National Wealth Fund will provide £36 million equity and up to £35 million loan to Tungsten West.
Half of the mine’s output will be ring-fenced for British use.
Oliver Holbourn said Hemerdon holds the world’s largest nearby tungsten deposits, vital for defence and aerospace.