My accountant has assured me that transferring investments between mining companies does not fall afoul of the wash sale rule.

If you sold DuPont preferred 3.50 and bought DuPont preferred 4.50 you would have a wash sale according to the rule and the loss would not be allowed.

If you sold a junior partner in a mine and bought the managing partner you might break the rule.

If you sold a mining company that has completely separate mining interests, it is not substantially the same security.

The rule is not intended to restrict investment in an entrie industry...