London, September 29, 2026: Strategic Minerals has secured a US$9.25 million investment from the US Department of War to accelerate development of its Redmoor tungsten-copper-tin project in Cornwall, UK. The funding will support feasibility studies, drilling, engineering and other pre-development activities aimed at advancing the project toward a final investment decision for underground mining.
The investment is being provided to Strategic Minerals’ wholly owned subsidiary, Cornwall Resources Limited (CRL). According to the company, the funding is non-dilutive, meaning it does not involve issuing new equity, and it does not impose restrictions on future funding or offtake arrangements.
Focus on Tungsten Supply
The Redmoor project is being developed as part of efforts to strengthen Western and allied supply chains for tungsten, a critical mineral used in advanced manufacturing, industrial applications and defence-related technologies.
Strategic Minerals said the US funding reflects Washington’s interest in developing a more secure and resilient allied tungsten supply chain. The company describes Redmoor as Europe’s highest-grade undeveloped tungsten resource, although that comparison is based on the company’s review of publicly reported mineral-resource data and differing projects may not be directly comparable.
Project Development Accelerated
The funding programme is expected to combine resource infill drilling with feasibility and engineering work. Strategic Minerals said the programme is designed to move Redmoor toward a definitive feasibility study and final investment decision, with the company targeting completion of the relevant technical and commercial work within approximately 32 months of programme commencement.
The project also includes work on mineral processing, metallurgy and site preparation. While the current funding supports development work, the company said it does not guarantee follow-on funding for mine construction or production.
The deal comes as the US, UK and other allied economies seek to diversify critical-mineral supply chains and reduce exposure to concentrated sources of strategic minerals. The UK government has separately identified tungsten as strategically important and is pursuing measures to strengthen domestic critical-mineral supply