Plans to redevelop the South Crofty site at Pool could be put on hold for up to five years as the owners continue their battle to re-start tin mining. The stay of execution became known yesterday following talks between Baseresult Holdings Ltd, the mine's owners, and the company formed to regenerate the Camborne, Pool and Redruth area with £150 million of EU money. Baseresult sought a meeting after the regeneration company said it might use compulsory purchase powers to buy the site. It is now five years since South Crofty, Europe's last working tin mine, closed. Most industry commentators have said that there is no chance of it ever re-opening as a viable tin mine but Baseresult, who acquired South Crofty nearly two years ago, think differently. Baseresult, which has substantial financial support from a mysterious Bermuda-based company, insists it is working on plans to start mining tin again.

Clarified

Mine managing director Kevin Williams yesterday issued a statement saying that he and fellow director David Stone had met Nigel Smith, chief executive of the Camborne, Pool and Redruth Urban Regeneration Company, to clarify reports that a compulsory purchase order could be sought. The statement said: "At this meeting, Baseresult's timetable was explained and the Urban Regeneration Company's policy on the use of compulsory purchase orders clarified. In the case of the South Crofty site, in the event that the mine did not re-open and quality development was not forthcoming, a CPO could be initiated. An order would take some two years to be confirmed and, in addition, subject to satisfactory progress, the Urban Regeneration Company would give a unilateral undertaking that the order would not be implemented for up to three years after that. "Baseresult has made it clear that re-opening South Crofty Mine would be a long-term and complex process. The site has been in Baseresult's ownership for less than 20 months during which time the progress has been steadfast.

Amicable

"Baseresult pointed out that after only one year of preparation the county planners have diverted the company's attention from re-opening plans to the environmental assessment by shortening the Review of Mineral Planning Permissions (ROMPS) submission deadline to March 2003. This deadline will be met and Baseresult can then revert to planning the re-opening of the mine and surface regeneration. "The amicable meeting provided an excellent opportunity to foster understanding of respective aims and paves the way for future collaboration." The statement was received by the Packet after an exchange of e-mails between Baseresult and the Regeneration Company and it is believed that the wording was mutually agreed. South Crofty is now widely seen as a local eyesore and, although most people were sad to see the death of Cornwall's tin industry, hopes have been raised of a new beginning for the Camborne, Pool and Redruth area. The Urban Regeneration Company, working under the direction of the Government's Regional Development Agency, has £150 million of EU money to invest and the South Crofty site was seen as an important part of the plan. Mr Smith said yesterday: "We don't want to be responsible for killing tin mining in Cornwall but we are here to give it a decent burial if it is dead." The regeneration company may be reluctant to press ahead with an immediate compulsory purchase of the site because of the likely valuation. As a derelict site, the land is virtually worthless. Redevelopment plans would enhance the value but the asking price would be even greater still if the owners can prove that there are vast tin reserves that can be profitably mined. Baseresult would almost certainly argue for compensation based on a projection of future profits from mining and the prospect of a long, drawn-out legal battle could be deterring the regeneration company.