Horowitz-backed firm to revive idled Utah copper mine
A startup backed by Silicon Valley venture firm Andreessen Horowitz plans to revive an idled copper mine in Utah to test new technology aimed at automating operations.
Mariana Minerals acquired the Centennial copper mine from Lisbon Valley Mining Co. LLC last year and will reopen it in April, according to Mariana’s chief executive officer Turner Caldwell. The small mine is part of a 10,000 acre land package that Mariana Minerals acquired, which also includes a refining facility.
The mine produced about 2,500 tons of copper a year under Lisbon Valley’s ownership, though Mariana plans to scale the output to 50,000 tons of copper cathode by 2030. The firm will deploy autonomous equipment including haul trucks and drill rigs, Caldwell said.
“There just hasn’t been a lot of mining in the US in the last 50 years, partly because we don’t have the people to design and operate these assets,” said Caldwell, who spent about a decade at Tesla Inc. managing the automaker’s battery minerals unit before founding Mariana Minerals.
The reopening is the latest example of mining firms looking to revive idled US operations as metal prices climb and the Trump administration pushes to onshore critical minerals. BHP Group and Faraday Copper Corp. are exploring a deal to restart a historic copper mine in Arizona, while Blue Moon Metals Inc. acquired a defunct germanium and gallium mine in Utah from Teck Resources Ltd. in February.
The closely held firm was among several commodity companies that went to Venezuela last week as part of US Interior Secretary Doug Burgum’s visit to revive oil and mineral production in the South American country.
Mariana closed a Series A funding round in June 2025 backed by Andreessen Horowitz, Breakthrough Energy Ventures and Khosla Ventures.
(By Jacob Lorinc)
Peru approves environmental study for $3.4B Buenaventura copper project
Peru on Wednesday approved an environmental study for Buenaventura, one of Peru’s largest mining firms, to proceed with its southern Trapiche copper project with an estimated investment of $3.4 billion, the Andean nation’s state certification office said.
The environmental certification office SENACE said the evaluation of the detailed environmental impact study “guarantees the development of activities under high sustainability standards” in Peru’s Apurimac region.
SENACE noted that while the study’s approval is an essential step, it does not in itself authorize the miner to begin operations.
Peru is the world’s third-largest copper producer. Regulators in the South American country require other permits including a construction license before miners can begin extracting ore.
Executives at Buenaventura, which owns several gold and silver mines across the country, have said Trapiche should become one of the company’s most important copper projects when it becomes operational after 2030.
Buenaventura also owns close to 20% of Cerro Verde, one of Peru’s largest copper deposits. The mine there is run by US-based miner Freeport McMoRan.
(By Marco Aquino; Editing by Aida Pelazez-Fernandez)
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