Rush to Provide Domestic Critical Minerals as Alternative to Chinese Supply
FN Media Group Presents USA News Group News Commentary
VANCOUVER, BC, Jan. 12, 2022 /PRNewswire/ -- USA News Group - Several governments around the globe are jockeying for position to secure critical minerals ahead of the energy transition. Much of this concern has to do with needing an alternative supply source based on the very real threat of disruptions out of the world's largest supplier, China. Several supply chain issues are coming to the fore, causing more urgency in new developments. In North America, both Canada and the United States are making pushes to improve their own situations as providers for the world. This has moved several critical minerals explorers, developers, and producers into action, including Ares Strategic Mining Inc. (TSXV:ARS) (OTC:ARSMF), MP Materials Corp. (NYSE:MP), Energy Fuels Inc. (NYSE:UUUU), Glencore plc (OTC:GLNCY), and Century Aluminum Company (NASDAQ:CENX).
During the fall of 2021, the U.S. Geological Survey (USGS) put out an updated 2021 Draft List of Critical Minerals, which explicitly listed 54 items ranking from highest to lowest supply chain risk based on quantitative evaluation.
Within the Top 10 on the list was an often overlooked critical mineral, known as fluorspar. For over a decade, concern over fluorspar supplies has been on the rise, as China has historically placed export restrictions on the mineral which is essential in the production of a wide variety of fluorine-containing products including refrigerants, coatings, foam-blowing agents, and pharmaceutical intermediates.
In response to this growing need, Ares Strategic Mining Inc. (TSXV:ARS) (OTC:ARSMF) has been diligently working towards developing a North American supply of fluorspar on its Lost Sheep Fluorspar Project, located in Delta, Utah—the only permitted fluorspar mine in the USA.
Ares is in the process of ramping up production at the site, by implementing new equipment and designing a new plant tailored to the site's ore, while also assembling a team of experienced personnel and strategic partners in Asia with several fluorspar mining operations in places like Thailand and Laos.
Recently, Ares shipped its large 3-story facility, called the lumps plant, ahead of schedule. It will be the only one of its kind in North America. Their partners, the Mujim Group have committed to provide labor and expertise for the installation and optimization of the plant, and to assist Ares to commence operations as efficiently as possible.
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