Darwin Financial Company (DFC) an investment firm focused on financing strategic mineral resource projects in the US, announced Friday that it has reached an agreement with INYOAG LLC for $55 million in project financing to develop the Darwin mine in Inyo County, California.
The funds will be used to make essential upgrades to the infrastructure of the Darwin mine, carry out exploration initiatives, and implement operational enhancements, the company said.
The Darwin project aims to revitalize a historically significant mining operation with over $749 million previously invested in existing infrastructure. DFC said the mine hosts substantial and proven reserves of silver, lead, zinc, tungsten, and copper, alongside deposits of germanium, hafnium, gallium, and antimony—minerals critical to technologies including fiber optics, night vision devices, aerospace alloys, and 5G networks.
The investment will support the expansion and modernization of the mine’s operations, focusing on extracting minerals crucial to US technology and defense industries, DFC said, adding that the project aims to play a crucial role in strengthening America’s supply chain security by reducing US dependence on foreign sources for these critical minerals.
DFC and INYOAG LLC are also planning a 100MW solar project that will utilize existing conduit rights of way to local power authorities to support sustainable energy production for the mine and surrounding areas.
The company also said the mine’s naturally cooled limestone crust will be used to design new chambers that will house a cutting-edge data center for AI and bitcoin mining.
“This agreement marks a significant milestone in our mission to secure America’s critical mineral future,” Derek Pew, DFC managing partner said in a news release. “By partnering with INYOAG, we’re not just investing in a mine – we’re investing in U.S. technological leadership and national security.”
