A unique opportunity zone project focused on restarting the historic Darwin Mine in eastern California was awarded the top prize at the Denver OZ Expo earlier this month.
The single asset OZ fund is looking to raise $66 million in equity for a $330 million project that will restart activity at a mine that was once among the most active in the country. The Darwin Mine, which was shuttered when metals prices plummeted, is home to significant deposits of zinc, silver, copper, and tungsten. Zinc sulfate produced from mined ore can be used in fertilizer and animal feed products, while tungsten has a number of industrial applications.
Unlike most mining investments, the Darwin Mine is poised to begin activity shortly after funding since there is already significant infrastructure in place. The mine, which covers more than 1,000 acres, was previously owned by Signal Oil and Anaconda Copper.
The mine is located in one of the largest opportunity zones in the country: California’s census tract 6027000800. This census tract covers almost 7,000 square miles in Inyo County, with a population of about 3,100. The tract includes much of Death Valley National Park.
Javelin Securities is the sponsor of the Darwin Mine OZ fund.