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US offers $225m backing for Cornwall tin mine revival

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US offers $225m backing for Cornwall tin mine revival

Britain’s only tin mine could end up exporting much of its future production to the United States after the American government signalled it is prepared to provide up to $225 million (£166 million) in financing to revive the historic South Crofty site in Cornwall.

Cornish Metals, which is working to bring the South Crofty mine near Camborne back into production, has received a letter of interest from the Export-Import Bank of the United States (Exim), proposing a potential financing package linked to supplying tin to the US market.

The move comes less than a year after Cornish Metals secured a £28.6 million equity investment from the UK’s government-backed National Wealth Fund, which was framed at the time as supporting a domestic supply of a strategically important mineral.

In its statement, Cornish Metals said Exim’s interest was explicitly tied to South Crofty providing a “responsible supply of tin concentrate” to the United States, as Washington seeks to strengthen critical mineral supply chains and reduce dependence on overseas producers.

The company estimates it will cost around £198 million to restart the mine by mid-2028, with both costs and timelines increasing over the past year. It is now seeking to secure funding to cover capital expenditure and operating costs as it moves towards production. Shares in Cornish Metals rose 2.7 per cent following confirmation of Exim’s interest.

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Tin is classed as a critical mineral and is widely used in electronics, renewable energy systems and advanced manufacturing. The UK currently has no domestic tin production, and South Crofty is expected to produce an average of around 4,700 tonnes of tin concentrate annually in its first five years, roughly equivalent to the UK’s total yearly consumption.

Fawzi Hanano, Cornish Metals’ chief development officer, said the US financing proposal would inevitably come with expectations around offtake.

“Exim would not give money to a foreign entity unless there’s something in it for them,” he said. “Ideally they would want all of the production, but in reality it would be a certain percentage that aligns with the level of financing being provided.”

He confirmed that none of South Crofty’s future output is currently committed to buyers and that there is no obligation for the mine to supply UK customers, despite the National Wealth Fund’s involvement.

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One of the challenges, Hanano said, is that while the mine will produce a high-grade tin concentrate, the UK and Europe currently lack the smelting capacity needed to process it into refined tin metal.

“There is no smelting capacity in the UK or Europe at present, so there is no outlet for tin concentrate domestically,” he said. While the US also lacks significant smelting capacity today, it is in the process of developing it as part of its critical minerals strategy.

Hanano suggested that government-to-government agreements could still allow for some tin to flow back to UK end users in the future. “If one country has upstream capacity and another has processing capability, there are structures where material can be processed and some of it returned. That’s ultimately a decision for governments to take.”

The potential deal highlights growing geopolitical competition for critical minerals, and raises questions over how far UK-backed resource projects may ultimately serve domestic industry when global supply chains, and foreign state financing come into play.

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Amy Ingham

Amy is a newly qualified journalist specialising in business journalism at Business Matters with responsibility for news content for what is now the UK’s largest print and online source of current business news.

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Uber ordered to pay $8.5m over claim driver raped passenger

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Uber ordered to pay $8.5m over claim driver raped passenger

The verdict is expected to influence the outcome of thousands of other cases against the ride hailing firm.

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Cigna Revenue Lifted by Growth in its Evernorth Unit

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Cigna Revenue Lifted by Growth in its Evernorth Unit

Cigna CI 3.09%increase; green up pointing triangle Group logged higher revenue in its latest quarter as its pharmacy-benefit business Evernorth continues to grow.

The healthcare company on Thursday posted a profit of $1.2 billion, or $4.64 a share, compared with $1.4 billion, or $5.13 a share, a year earlier.

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Form 13G FIRST TRUST EXCHANGE-TRADED FUND III For: 6 February

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Form 13G FIRST TRUST EXCHANGE-TRADED FUND III For: 6 February

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More baby formula products recalled over toxin fears

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More baby formula products recalled over toxin fears

Danone and Nestle have given assurances to the FSA that recalled batches were produced some time ago and are unlikely still to be on UK shop shelves. However, they may be in cupboards at home, which is why parents and caregivers are being asked to check their supplies.

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Best Tech Stocks To Buy On The Earnings Week Dip

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Best Tech Stocks To Buy On The Earnings Week Dip

This article was written by

Steven Cress is VP of Quantitative Strategy and Market Data at Seeking Alpha. Steve is also the creator of the platform’s quantitative stock rating system and many of the analytical tools on Seeking Alpha. His contributions form the cornerstone of the Seeking Alpha Quant Rating system, designed to interpret data for investors and offer insights on investment directions, thereby saving valuable time for users. He is also the Founder and Co-Manager of Alpha Picks, a systematic stock recommendation tool designed to help long-term investors create a best-in-class portfolio.Steve is passionate and dedicated to removing emotional biases from investment decisions. Utilizing a data-driven approach, he leverages sophisticated algorithms and technologies to simplify complex, laborious investment research, creating an easy-to-follow, daily updated grading system for stock trading recommendations.Steve was previously the Founder and CEO of CressCap Investment Research until its acquisition by Seeking Alpha in 2018 for its unparalleled quant analysis and market data capabilities. Prior to that, he had also founded the quant hedge fund Cress Capital Management, after spending most of his career running a proprietary trading desk at Morgan Stanley and leading international business development at Northern Trust.With over 30 years of experience in equity research, quantitative strategies, and portfolio management, Steve is well-positioned to speak on a wide range of investment topics.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given that any particular security, portfolio, transaction or investment strategy is suitable for any specific person. The author is not advising you personally concerning the nature, potential, value or suitability of any particular security or other matter. You alone are solely responsible for determining whether any investment, security or strategy, or any product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. Steven Cress is the Head of Quantitative Strategy at Seeking Alpha. Any views or opinions expressed herein may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank.

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What Threat Detection Looks Like in a Large Organisation

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What Threat Detection Looks Like in a Large Organisation

Bobby Acri is a cybersecurity analyst based in Winnetka, Illinois, who focuses on threat detection, incident response, risk mitigation, and secure systems design.

His work centres on protecting large, complex systems in environments where small weaknesses can create outsized risk.

Born on 17 May 1991 at Evanston Hospital, Bobby grew up on Chicago’s North Shore. He attended Hubbard Woods Elementary, Washburne Middle School, and New Trier Township High School. Early on, he gravitated towards how systems behave under pressure, not just how they look when everything is running smoothly. He built that mindset through computer science coursework, networking classes, and hands-on tech support for school events.

Bobby earned a B.S. in Computer Science from the University of Illinois Chicago in 2013, with a practical focus on operating systems, networking, and applied cryptography-type work. A 2012 internship with NorthShore University HealthSystem gave him early exposure to enterprise controls in a healthcare setting, where access and process matter.

He began his career in enterprise IT at CDW, then moved into systems administration at Aon, working closely with identity and endpoint workflows. In 2018, he transitioned into security operations at CME Group as a SOC analyst, investigating SIEM alerts, triaging phishing reports, and producing clean incident timelines. Since 2021, he has worked at United Airlines as a cybersecurity analyst, partnering across teams to improve detections, reduce alert fatigue, and strengthen controls before incidents escalate. Known for calm, methodical execution and strong documentation, Bobby leads through clarity, repeatable processes, and continuous improvement.

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Where did your interest in cybersecurity begin?

It started with problem solving and systems thinking. Even early on, I cared less about surface level functionality and more about what happens when something breaks or gets stressed. That way of thinking stayed with me through school and into work.

How did your education shape your approach?

I studied Computer Science at the University of Illinois Chicago and finished in 2013. I focused on practical, systems-oriented classes like operating systems and networking, plus applied cryptography-type work. That foundation still shows up in how I investigate issues. I want to understand what the system is doing, not just what a tool says.

What did you learn from your first real enterprise experience?

In 2012, I interned with NorthShore University HealthSystem in IT support. I worked ticket queues, device imaging, and account and password issues. It was also my first close look at a setting where policy and access controls are taken seriously. You learn quickly that process is not optional when sensitive systems are involved.

How did your early career roles prepare you for security work?

I started at CDW as a service desk analyst supporting business clients. The work taught me how enterprise environments fail in everyday ways, and how users experience risk. I also built a habit of writing things down. If a fix works once, it should be repeatable. From 2015 to 2018 at Aon, I worked in systems administration with identity and endpoint support. That role put me close to account provisioning, group policy, patch coordination, and security-adjacent issues like phishing and compromised accounts. It was a clear view of how security, compliance, and business urgency collide.

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What changed when you moved into a SOC role at CME Group?

The pace and the signal-to-noise problem got real. From 2018 to 2021, I monitored SIEM alerts, investigated endpoint and network anomalies, and triaged phishing reports. A big part of the job is working out what is just noisy and what is actually dangerous. I focused on clean timelines and clear incident notes. If the timeline is messy, the response is messy. I also started writing runbooks and checklists that other analysts used. That helped the team move faster and more consistently.

What does your role at United Airlines look like today?

Since 2021, I have worked as a cybersecurity analyst focused on threat detection and incident response. I investigate anomalies and support response work, but I also spend time on improvements that prevent repeat issues. That includes partnering with IT and engineering on hardening controls and reducing alert fatigue. If you do not address fatigue, you miss real problems because everything starts to look the same.

How would you describe your working style?

Methodical. Calm under pressure. I use precise language and I separate confirmed findings from suspected ones. I document as I go. I treat near misses as valuable because they show you where the gaps are, without the cost of a full incident.

What do you pay attention to as the field keeps changing?

Evolving attack vectors, cloud security trends, and the regulatory frameworks that shape large enterprises. Cybersecurity demands constant education. I do not treat learning as a side project. It is part of the job.

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What keeps you grounded outside of work?

Endurance running along Lake Michigan, strategy board games, and reading history and behavioural science. Those interests connect back to the work in a quiet way. They reinforce patience, pattern recognition, and an understanding of the human side of risk.

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Ethereum Climbs 11% In Bullish Trade

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Ethereum Climbs 11% In Bullish Trade

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Epstein emails: So-called 'shady financier' was Andrew's 'trusted money man'

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Epstein emails: So-called 'shady financier' was Andrew's 'trusted money man'

Andrew seemed keen for Epstein to do business with David Rowland, but Epstein was wary, emails suggest.

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Viterra merger ‘already delivering results,’ Bunge CEO says

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Viterra merger ‘already delivering results,’ Bunge CEO says

Sales climb 32% in fiscal 2025.

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Barrick Mining: Meet The New Boss, Not The Same As The Old Boss

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Barrick Mining: Meet The New Boss, Not The Same As The Old Boss

Barrick Mining: Meet The New Boss, Not The Same As The Old Boss

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