Mariana Minerals raises $310 million to expand US critical minerals projects

Mariana Minerals said on Monday it has raised $310 million in Series B financing, providing capital to accelerate US production of critical minerals.

The critical minerals company said the financing will support the development of its project portfolio, including its flagship Copper One project in southeastern Utah and Lithium One in East Texas.

This brings the company’s total parent and project capital raised to date to about $400 million.

Mariana said the investment advances its goal of developing 10 commercial-scale projects over the next decade, aimed at bolstering the US supply of critical minerals.

Demand for critical minerals has risen sharply, driven by electric vehicles, renewable energy and other technologies that rely on these metals.

Mariana engineers, builds and operates mines and refineries using its proprietary MarianaOS platform.

(By Katha Kalia; Editing by Tasim Zahid)