W. R. Roebuck William Richardson Roebuck became interested in the development of mineral extraction, and railway transport, in central Cornwall, and as well as acquiring an interest in iron mines, he negotiated with Treffry's trustees to lease the tramways. A 60-year lease was concluded on 21 February 1872. As part of the agreement, Roebuck undertook that if he was successful in acquiring the line he would lay broad gauge rails on the former Treffry line from the point where the two lines met as far as Newquay, and improve the route for locomotive-operated passenger trains from Burngullow to Newquay; and similarly if he acquired the
Lostwithiel and Fowey Railway he would extend that to Fowey Harbour, as its southern extremity was at deep water jetties at Carne Point, some distance north of Fowey itself. The lease of the tramways was only a first step, and Roebuck's proposed improvements were ambitious, involving new lines, and locomotive operation. The ailing came into his plans, and he formed a
limited company, the 'Cornwall Minerals Railway and Harbour Company Limited' for the purpose of incorporating all his proposed works and obtaining Board of Trade authorisation under the
Railways Construction Facilities Act 1864 (
27 & 28 Vict. c. 121). However this was unsuccessful, and Roebuck and his company were obliged to obtain an act of Parliament in the ordinary way.
Authorisation The
Cornwall Minerals Railway (now omitting the reference to a harbour) obtained authorisation by the '''''' (
36 & 37 Vict. c. clxii) to acquire and improve the Treffry Tramways, and to build new railways to connect St Dennis (then called 'Bodmin Road Junction') and Molinnis; and to acquire the Newquay and Cornwall Junction Railway and to build a line between its northern end at Nanpean (Drinnick Mill) and Hendra. Moreover, a new line connecting St Blazey (near Par) and Fowey Harbour was to be built, with jetties and wharves there, and improvements to the quays at Newquay. There were also to be three short extensions elsewhere, to Carbis, to Melangoose Mill and to
Treamble. This was a massive project; the improvements to Treffry's line involved a new alignment 2 m (4 km) long in the Luxulyan Valley, which was difficult terrain for railways: the Carmears incline was to be by-passed.
Toldish Tunnel and the Treffry and Trenance Viaducts were unsuitable and they too needed to be by-passed; and numerous level crossings of roads needed to be replaced by bridges. The line to Fowey involved a new tunnel at Pinnock, in length, and by far the longest tunnel in Cornwall. The Newquay and Cornwall Junction Railway was authorised to be transferred to the by the Cornwall Minerals Railway Act 1873, and the worked that line from June 1874, although the actual formal transfer did not take place until 1884. The Treamble branch was extended to Gravel Hill where there were iron ore deposits; this was an addition to the originally authorised network, and was done by arrangement with the landowner and without parliamentary authority. The Cornwall Minerals Railway Act 1873 (
36 & 37 Vict. c. clxii) had required the to lay the Drinnick Mill to St Dennis section in mixed gauge, giving the Cornwall Railway broad gauge access to St Dennis; this obligation had been incorporated into the
Newquay and Cornwall Junction Railway Act 1864 (
27 & 28 Vict. c. clxiii). The only laid narrow gauge (i.e. standard gauge) rails at first, seeing no advantage in adding the broad gauge rails. In fact the Cornwall Railway petitioned in the Court of Chancery for the broad gauge rails to be added, and this was done in the following year (June 1875), although they were arranged so as to be unusable.
Collapse of mineral trade Mineral extraction in Cornwall was always susceptible to world price fluctuations and at the time of opening of the lines, cheap iron ore production in Spain and elsewhere developed and made the Cornish mines uneconomic; numerous iron ore mines closed suddenly. Contracts had been agreed with certain mines guaranteeing volumes of carrying, which they were now unable to satisfy; the sued the Cornish Consolidated Mines Corporation, but this simply resulted in the Cornish Consolidated Mines Corporation going into liquidation. In addition
china clay production was significantly reduced by agreement between the pit owners, following price depression due to over-production. These factors led to a desperate situation for the which had made considerable financial outlays and was now unable to obtain income, and some major shareholders were severely embarrassed.
Passengers Seeing the income from mineral traffic so deficient, the company started a passenger service between
Fowey and
Newquay, using six second-hand coaches probably obtained from the
Midland Railway. This started on 20 July 1876; two trains ran each way, taking 95 minutes for the journey. ==Lease to the Great Western Railway==