In 1872 it was agreed to lease the line to the newly formed Cornwall Minerals Railway which would complete the connection to the Newquay Railway. It would also convert both this and the Par Tramway for steam engines, and connect these together and with quays at Fowey. The lease took effect from 1 June 1874 but the company never received everything that it had been promised and took legal action against the Cornwall Minerals Railway. The Newquay and Cornwall Junction Railway directors stopped meeting in 1885.