A landmark piece of Arizona’s mining history has sold for $10 million after going under contract in seven days.
Compass Arizona associate broker Anne Sheldon represented the seller in the high-profile transaction and closed the same of the 231-acre Hackberry Silver Mine on March 23.
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Sheldon oversaw the sale on behalf of the Hughes Family Trust, which purchased the two-parcel property, consisting of 12 patented claims, through a tax sale in 1955.
The mining transaction involved “patented” claims, so the buyer, Rock Forge LLC, can extract minerals. Besides the mine, Rock Forge LLC will have full control over the land.
According to a statement, this is “a rare opportunity in today’s mining marketplace.”
Located atop the Peacock Mountain Range about 27 miles northeast of Kingman, the Hackberry Silver Mine merges historic significance with long-term investment potential.
“This deal was the definition of persistence, years in the making and highly detailed from start to finish,” said George Finn, the Rose Law Group attorney who handled the legal side of the transaction.
“We’re grateful to have supported the Hughes Family through the documentation, negotiations and closing process, and to see the Hackberry Silver Mine transaction successfully completed. It is certainly one that I will never forget.”
The Hackberry Mine — named after a tree near a water source by the four men who discovered it in 1874 — features five mine shafts, including a main shaft reaching 950 feet deep. It also has 1,000 feet of horizontal workings, original drift systems and stamp mill foundations.
Historically, the site produced silver, gold, lead, copper, uranium, zinc and cadmium until mining activity ceased in the late 1980s.
Sheldon is “known for handling complex and unconventional listings across Arizona,” according to a statement. This transaction reflects broader shifts in investor behavior.
“With volatility in traditional markets, we’re seeing more interest in tangible assets tied to natural resources,” Sheldon said. “At the same time, materials tied to mining are playing a larger role in everything from energy to technology. Properties like this sit at the intersection of history, land and long-term potential, and buyers recognize that.”
The deal unfolded alongside a sharp rise in silver prices. At the time of the mine’s listing, the value of silver was about $28 per ounce. By the time the sale closed, the silver’s value climbed to $78 per ounce. The transaction also required extensive due diligence, with WFG National Title’s Kelly Silva coordinating research that traced the mine’s ownership back to 1874.
