There is a growing need domestically for minerals in manufacturing. As a result, more companies are looking to tap into Arizona ore.
The family owned Hackberry Silver Mine near Kingman hadn’t been used since the 1980s but recently sold for $10 million to Rock Forge LLC. Real estate agent Anne Sheldon arranged the sale, and said this deal is part of a growing trend.
“Silver and the rare earth minerals. They're more wanted because of everything, you know, the batteries need silver, the technology needs silver, that microchips need silver,” Sheldon said.
Sheldon says some manufacturing companies are coming to Arizona to start their own mining operations, rather than just buying the metals. State Mine Inspector Les Presymk said new federal supply-chain policies are attracting these companies to the state.
"This is the most optimistic time that I have seen in 50 years of being involved in Arizona mining in terms of the money that's coming in, the interest in bringing that money and that exploration expertise, that mining expertise, to the state.” Presymk said.
Presymk said improvements in autonomous equipment are streamlining the mining process.
“There's going to be a lot of additional activity over the next five to 10 years, both in terms of new mines coming into production, and a lot of companies, exploration companies, and others that are interested in seeing what or if they can find that next property.” Presymk said.
He said federal policies are a driving force for mining activity and new multimillion-dollar projects are planned across Arizona.
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