Jack Stone is the CEO of Inyoag OZ Funding LLC, based in Darwin, California. His project earned the title of America’s Top Project during the Opportunity Zone Expo in Denver in July. Pitched to a panel of OZ judges at the inaugural America’s Top Project competition, the project features the revival of a dormant large-scale mining operation. Stone shares the story behind the award-winning project, its contributions to the community, and the company’s future plans.



What is Inyoag OZ’s project all about?

The reopening of the Darwin Mine is bringing domestic production of EV minerals and critical minerals home in an environmentally sensitive way with environmental social governance, and restoring economic prosperity to the County of Inyo, California.

What do you hope to achieve with your project?

We hope to not only produce the minerals needed for agriculture, energy, and defense but to build a state-of-the-art hydrometallurgical facility to refine the products for domestic consumption.

What did it mean for you to win?

We were happy to be recognized as America’s Top Project; it has been a long road. We also were delighted others recognized our project’s positive impact on Inyo County and our country.

What advice would you like to give other companies competing in upcoming competitions?

The only advice we can offer is to know your project inside and out before asking for investments.

How would you describe your company?

We are a base metal mine on private property, with a rich history dating back to 1873. We border Death Valley and the mine has been the largest silver mine in California, as well as an important strategic metal mine during World War I and II.

What is your professional background? 

I have been in mining my entire career, first working at Darwin in 1976.

How much have you raised to date in your OZ fund?  

To date, we have personally contributed $25 million to the project and raised another $3.6 million through the OZ Program. We are receiving positive interest.

How did Inyoag OZ Funding get involved in the OZ industry?  

Inyoag OZ Funding was a cooperation result of the County of Inyo, who lobbied for our project to be included in the original Opportunity Zone creation.

How did the pandemic impact your business strategy?

Mining was deemed essential, so we have worked through the pandemic safely and with a focus on employees’ health and well-being.

What are some current trends you are seeing in the OZ market?

The OZ Program’s focus is on real estate and I believe it needs to move more toward long-term job creation.

What do you think Opportunity Zones can accomplish for distressed areas?

In distressed areas, many of which have dormant factories, mines and production facilities that generate high yield, Opportunity Zones allow for high wages and benefits for the work force, improving the surrounding communities.

What are your top business goals this year?   

We are hoping to begin production before the end of the year. Hopefully, the program will be extended and the focus on critical minerals will be reviewed with a commission to add regions of geological importance to the existing areas covered by the OZ Program.

What are your plans for the future?

We hope to continue the development of job training, education assistance, and work to meet the needs of the communities and our great country. We plan to utilize solar and renewable energy and be carbon-neutral by the end of construction.


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