News

11.05.2026

A New Chapter: Restoring a Strategic Asset in Utah, the Right Way

Read the Utah Department of Natural Resources press release.

We’re honored to be selected by the State of Utah to enter negotiations and lead a responsible restart of critical minerals production at the former US Magnesium site. We’re committed to deepening our partnership and investment in Utah and continuing to work with our regulators and communities constructively and transparently. 

This site, sitting in Rowley along the Great Salt Lake, is central to our national and economic security. It was once home to the country’s only production of magnesium and capable of producing other critical minerals like lithium that our country needs to support the modern economy.

Here's why we're different

First, the cleanup is the priority. We’re pursuing a multi-year, multi-phase restart of critical minerals production that accelerates funding for the site’s environmental remediation, with revenue going directly to the State to support the cleanup. Water management and protection of the Great Salt Lake is central to our plan. Our proposal leaves the Lake untouched for years while we focus on the mineral resources readily available onsite for processing. When water use is contemplated to generate additional resources and revenue for Utah, we’ll operate under a jointly agreed management plan with the State and a goal of net-neutral water use over the life of the asset. As we progress, we’ll invest significant capital at the site, target more than 200 full-time jobs over time while working with local contractors and vendors, and partner with local universities and trade schools to support workforce development. 

Second, Utah already is home. We’re not new to the State or tackling hard problems here. Late last year, we acquired the former Lisbon Valley Mine, a copper mine and refinery in San Juan County. Today, we’re transforming the mine (now Copper One) into a modernized, autonomous operating asset helping meet the country’s soaring copper demand — while growing jobs from 60 employees at the end of 2025 to a planned workforce of more than 300. We’re also building a state-of-the-art recycling facility at Copper One to refine copper scrap at home rather than shipping this valuable material abroad. We’ve done so with a record of regulatory and environmental compliance and continuous investment in the county.

Here's why we're different

First, the cleanup is the priority. We’re pursuing a multi-year, multi-phase restart of critical minerals production that accelerates funding for the site’s environmental remediation, with revenue going directly to the State to support the cleanup. Water management and protection of the Great Salt Lake is central to our plan. Our proposal leaves the Lake untouched for years while we focus on the mineral resources readily available onsite for processing. When water use is contemplated to generate additional resources and revenue for Utah, we’ll operate under a jointly agreed management plan with the State and a goal of net-neutral water use over the life of the asset. As we progress, we’ll invest significant capital at the site, target more than 200 full-time jobs over time while working with local contractors and vendors, and partner with local universities and trade schools to support workforce development. 

Second, Utah already is home. We’re not new to the State or tackling hard problems here. Late last year, we acquired the former Lisbon Valley Mine, a copper mine and refinery in San Juan County. Today, we’re transforming the mine (now Copper One) into a modernized, autonomous operating asset helping meet the country’s soaring copper demand — while growing jobs from 60 employees at the end of 2025 to a planned workforce of more than 300. We’re also building a state-of-the-art recycling facility at Copper One to refine copper scrap at home rather than shipping this valuable material abroad. We’ve done so with a record of regulatory and environmental compliance and continuous investment in the county.

Mariana Minerals Copper One is an autonomy-first copper mine and refinery located in San Juan County, UT.

Third, it takes all of us to succeed. We’re taking a community-first approach to our operations at Rowley and building support from the ground up. We’ll engage openly, listen to our stakeholders, and earn trust through our actions. You’ll see us in your community, and you’ll hear from us directly. 

We’re only at the start. Next up is negotiating the terms of the site’s redevelopment with the State. Done the right way, and with the right partnership, we can restore the strategic importance of the site and deliver significant value for the State, Tooele County, local community, and Great Salt Lake. That’s our commitment, and how we’ll be measured. 

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