Rachel Reeves will visit a Cornish tin mine set to reopen with government backing.
The Chancellor announced £28.6 million from the National Wealth Fund for Cornish Metals, which is seeking to reopen the South Crofty tin mine, could create up to 1,300 jobs.
The Chancellor will also visit other businesses in Cornwall and will hail plans to cut red tape that aim to boost the region’s pubs, clubs, restaurants and cafes by allowing more al fresco dining and longer opening hours.
"Despite having so much potential to grow, Cornwall has been neglected by successive governments, and its families and businesses have suffered as a result," Reeves said.
"Like in every part of the UK, I am determined to unlock growth that creates jobs and puts more money in Cornish people's pockets.
“Our investment to revive Cornwall’s proud tin mining industry and the thousands of jobs it will create for years to come is one way we are renewing the county.”
The mine reopening itself is expected to generate more than 300 direct jobs. The Treasury estimates an additional 1,000 positions could be created through supply chain demands for metal fabricators and electricians.
It would support the UK’s domestic tin supply amid increased demand for use in solar panels, wind turbines, electric vehicles, semi-conductors and energy storage increases.
Don Turvey, chief executive of Cornish Metals, welcomed the government investment.
"We are honoured to welcome the Chancellor to South Crofty and proud to showcase the significant progress we're making as we move toward production," he said.
“The UK Government’s £28.6 million investment via the National Wealth Fund is a powerful vote of confidence in our project and the future of Cornwall’s mining industry.”
The Chancellor has also visited ship repair business A&P Falmouth and Harbour Lights fish and chip shop in Falmouth and will go to heat pump manufacturer Kensa in Truro.
(PA) Note: This article has been edited with the help of Artificial Intelligence.
