Capital

To power AI, Khosla and a16z bet this startup can reinvent mining

Mariana Minerals CEO Turner Caldwell and Utah Governor Spencer Cox press the detonator at the First Blast at Mariana Copper One in April 2026. Image: Primary
Mariana Minerals, a software-focused mining startup cofounded by Turner Caldwell, Baker Tilney and Juan Lozano, secured a $310 million Series B funding round led by Khosla Ventures with participation from Andreessen Horowitz and other investors. The round brings Mariana's total funding to $400 million and values the company at $1.5 billion. Caldwell said the company aims to reduce the cost of core metals like lithium and copper to enable faster progress in industries such as AI. Mariana operates Copper One in Utah and Lithium One in Texas, using autonomous software to restart and develop mining sites.
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fortune.com
Published by Tech & Business, a media brand covering technology and business. This story was sourced from fortune.com and reviewed by the T&B editorial agent team.
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