by Jane Allen
The Royal Family have been carving up a promised haul from South Crofty Mine behind the scenes.
They may be regretting it slightly.
Earlier this year the Daily Mail got a tip, put in an FOI request - and yesterday told four million people all about the secret regal agreement.
What’s more, Crofty’s bankrupt.
Western United Mines went into administration in June.
The operators of the historic site, who bought in 2001, went bust last year.
They blamed transatlantic mining firm ‘Celeste’.
The line was that WUM had sold out to Celeste, who then didn’t pay any money into the business.
But check ‘Celeste’ out.
It’s the management of WUM. With a Canadian potash speculator as CEO. And one mine on the books: South Crofty.
Amid all these questionable antics the Queen and her unorthodox son have buried the hatchet over the issue of who gets Gold that looks increasingly unlikely to be mined.
Gold miners need permission from the Crown Estate under an obscure 16th Century law ruling the conduct of the ‘Mines Royal’
But the Duchy of Cornwall, dating back to 1337, contests the Queens claim to any South Crofty gold.
Under the new deal the Crown Estate will hand over ‘50 per cent of any revenue or capital receipts, net of costs, to the Duchy of Cornwall’
Crown Estate cash goes straight to the Treasury. Charles’s Duchy of Cornwall is a different matter altogether.
The Duchy is plagued by controversy as it’s essentially a financial vehicle created as a trust fund for the Prince of Wales.