TUCSON, ARIZONA (May 18, 2026) — A $10 million transaction recorded April 27, 2026, involving mineral interests near Mt. Lemmon / San Manuel, tied to the renewed advancement of the Oracle Ridge copper project northeast of Tucson, that straddles the ridge between Pima and Pinal Counties.

The seller was Marble Mountain Ventures LLC, c/o Oracle Ridge Holdings, and the buyer was Silver Mountain Mining LLC and Wedgetail Operations LLC of Tucson. The transaction closed shortly after Eagle Mountain Mining announced a joint venture with Japan-based Nittetsu Mining Co. for the Oracle Ridge copper project.

Oracle Ridge is a historic underground copper mine located northeast of Tucson, near San Manuel. Eagle Mountain describes the project as less than a two-hour drive from Tucson and about 50 minutes from San Manuel. The company says the mine was previously operational in the 1990s and produced a high-grade copper-silver-gold concentrate. Existing infrastructure on the site includes approximately 18 kilometers of underground development and mine buildings, although the historical processing plant has been removed.

Under the April 2026 joint venture, Nittetsu acquired an 80% interest in Oracle Ridge, while Eagle Mountain retained 20%. Nittetsu will operate the project going forward and has committed to spending $20 million to retain its 80% interest.

Nittetsu entered into an agreement with Eagle Mountain on April 20, 2026, to participate in the Oracle Ridge copper exploration venture in Arizona. The agreement calls for a total investment of $20 million over four years for environmental permitting, drilling, exploration, and feasibility work. Nittetsu will also hold 100% offtake rights for the project.

The project has broader significance at a time of renewed interest in domestic copper resources and critical mineral supply chains. Eagle Mountain reports Oracle Ridge has a mineral resource of 28 million tonnes at 1.35% copper, with silver and gold credits, representing approximately 380,000 tonnes of copper, 10 million ounces of silver, and 142,000 ounces of gold.

Nittetsu is a Japanese mining and resources company established in 1939 with operations in mineral resources, machinery, environmental engineering, real estate, and renewable energy. Eagle Mountain said Nittetsu’s metallic minerals division operates a copper mine and advanced projects in Chile and is a joint venture partner in Hibi Kyodo Smelting Co., Ltd.

The local recorded transaction involving Marble Mountain Ventures, Silver Mountain Mining, and Wedgetail Operations appears to be part of the larger Oracle Ridge project consolidation and joint venture structure, rather than a conventional commercial land sale. While not a conventional real estate sale, the recorded $10 million mineral rights acquisition is significant locally because it ties the Oracle Ridge asset to a broader international mining investment and renewed interest in Southern Arizona’s copper resources.

The transaction underscores Southern Arizona’s long-standing role in the mining economy and the renewed importance of copper to domestic supply chains, electrification, infrastructure, and advanced manufacturing. Projects such as Oracle Ridge draw attention to the region’s mineral resources, technical workforce, and mining expertise, while also highlighting the opportunity to responsibly redevelop existing or historic mine assets rather than pursue entirely new greenfield development.

Kitco’s New York spot prices showed gold at $4,651.40/oz and silver at $83.39/oz. Daily Metal Price listed gold at $4,677.94/oz, silver at $84.78/oz, and copper at $6.56/lb for May 14. Trading Economics showed copper around $6.53/lb, down on the day but still sharply higher year over year. Gold Spot Prices | Silver Prices | Platinum & Palladium | KITCO

TUCSON, ARIZONA (May 14, 2026) — Tucson Real Estate and Investments LLC purchased Sonoran Palms Student Housing, a five-unit multifamily property at 1002 E. Lester Street in Tucson, from Lester Investment Partners LLC for $980,000. The transaction closed on April 29, 2026.

The sale equates to $196,000 per unit, $89,091 per bed, and $200.25 per square foot. The property sold at a reported 6.78% cap rate.

Built in 1967, the 4,894-square-foot property sits on 0.34 acres in Tucson’s Central submarket near the University of Arizona and Banner University Medical Center. The property consists of two buildings with five units: four two-bedroom, one-bath units and one three-bedroom, one-bath unit. The asset also includes a courtyard and individual gas and electric meters.

The property was marketed as Sonoran Palms Student Housing and positioned around its location in a high-demand University of Arizona rental corridor. The buyer, Tucson Real Estate and Investments LLC, is based in Los Angeles and was represented by David Richard Vertieb, a member.

Allan Mendelsberg and Joey Martinez with Cushman & Wakefield | PICOR represented both the seller and buyer in the transaction. Mendelsberg can be reached at 520.546.2721, and Martinez can be reached at 520.546.2730.

Source: RED Comp #12460

ORO VALLEY, AZ (May 14, 2026) —The Oro Valley Town Council has approved significant land use changes for the long-discussed Rooney Ranch / Oro Valley Town Centre area near Oracle Road and Pusch View Lane, advancing a plan town officials say better balances future development with desert preservation.

The property totals approximately 141 acres and has long been one of the most visible undeveloped desert parcels along Oracle Road. It has also been the subject of repeated planning discussions and community debate over growth, traffic, viewsheds, commercial development, and the future character of Oro Valley.

The approved framework preserves approximately 88 acres as open space and trail areas, while allowing limited townhome and commercial development on portions of the site closer to Oracle Road. The plan focuses on Areas 2, 3, and 4 of the Oro Valley Town Center Planned Area Development, while Area 1, which includes existing uses such as San Dorado Apartments, CVS, Panera Bread, and Chipotle, is not part of the current proposal.

Under the revised plan, development intensity is reduced relative to prior concepts by shifting future commercial and residential uses closer to Oracle Road and limiting encroachment into the desert landscape. The updated plan also removes previously allowed single-family residential lots near existing neighborhoods and lowers allowable building heights in certain areas, including eliminating the possibility of a five-story hotel.

Town-owned Area 4, approximately 25 acres, is proposed to shift from low-density residential to parks and open space, preserving the area for trails and natural desert open space. Area 3 is expected to transition from mixed use to residential-only, with concepts that have included either 225 to 250 multifamily units or 105 to 110 townhomes. Area 2 would remain commercial, with several layout options under consideration along Oracle Road.

Town officials emphasized that the revised plan is intended to preserve larger areas of natural open space, maintain scenic views, expand trail connectivity, reduce neighborhood impacts, and create more flexibility for future commercial development along Oracle Road. The proposal also positions portions of town-owned land for potential future sale or economic development.

Community feedback during the planning process reflected strong support for maximizing open space, particularly in Area 4, while residents also raised concerns about traffic, water supply, trail placement, privacy, wildlife movement, and the type and design of future commercial uses. Several residents urged the town to avoid big-box-style development and instead pursue a distinctive town center with gathering spaces, patios, trails, view corridors, and high-quality architecture consistent with Oro Valley’s character.

Supporters argued the revised approach represents a compromise between preserving undeveloped land and recognizing the economic realities of a high-profile commercial corridor. Critics, however, continued to express concerns about allowing additional development on one of Oro Valley’s remaining open desert parcels.

The project reflects a broader trend underway in Oro Valley and across Southern Arizona as communities attempt to balance growth pressures, housing demand and economic development with preservation goals and neighborhood concerns.

The Rooney Ranch / Oro Valley Town Centre area has been the subject of planning discussions for years, with multiple concepts proposed over time ranging from more intensive residential development to mixed-use commercial and open-space alternatives. The newly approved framework now establishes the direction for future site planning and development proposals for the property.