Global Fluorite Market is Very Promising as Fluorspar Beneficial Uses and Applications Expand
Palm Beach, FL – October 20, 2020 – Most people are aware of the value of investing in ores and minerals such as gold, silver, copper and lithium, but there is another mineral that bears attention also… it is fluorspar. It has very wide uses. Fluorspar is an industrial mineral used in the manufacture of fluorochemicals, aluminum and steel. The term “fluorspar” refers to crude or beneficiated material that is mined and/or milled for the mineral fluorite (calcium fluoride). Fluorite is a nonmetallic mineral, containing 51.1 percent calcium and 48.9 percent fluorine. Fluorspar’s uses have grown and changed in the last 100 years; today, the most important markets are fluorochemical production, aluminum refining and steelmaking. In the U.S., most acid-grade fluorspar is used in the production of hydrofluoric acid, which is primarily used in manufacturing various fluorocarbon chemicals that are used as refrigerants, foam-blowing agents and solvents, and in the production of high-performance plastics. Hydrofluoric acid also is used in manufacturing computer chips and high-octane gasoline, stainless steel pickling and uranium fuel processing. Acid- or ceramic-grade fluorspar also may be used to manufacture enamels, glass and fiberglass, and welding rod coatings. Metallurgical-grade fluorspar is consumed mainly in steelmaking, but is also used in making portland cement and casting iron and steel. Active stocks in the mining markets this week include Ares Strategic Mining Inc. (OTCQB: ARSMF) (TSX-V: ARS), Commerce Resources Corp. (OTCPK: CMRZF) (TSX-V:CCE), Cleveland-Cliffs Inc. (NYSE: CLF), Americas Gold and Silver Corporation (NYSE: USAS) (TSX: USA), McEwen MiningInc. (NYSE: MUX) (TSX: MUX).
According to a report from Grand View Research the growth of the automotive sector is expected to drive global fluorspar market growth through 2025. It said: “Fluorspar is used in the production of hydrofluoric acid which is a key component for manufacturing aluminum. Heavy usage of aluminum in the automotive industry is projected to remain a key driver for global market growth. Increasing automobile demand, as well as production in emerging economies, is expected to fuel global market growth. Continued expansion of metal and foundry industries is expected to foster the global market demand. Increasing usage of fluoropolymers in lithium batteries coupled with fluorine usage for refrigeration is expected to foster the global market growth. Fluorspar can be further used in fluorocarbon production, which is used for downstream activities. Increasing downstream activities in emerging economies such as China & Mexico is projected to augment global fluorspar market growth.”
Ares Strategic Mining Inc. (OTCQB: ARSMF) (TSX-V: ARS) BREAKING NEWS: Ares Strategic Mining Inc. Announces the Acquisition of 28 New Claims Showing Fluorspar Mineralization, and the Consolidation of the Spor Mountain Fluorspar District – Ares Strategic Mining (“Ares” or the “Company”) is pleased to announce the Company has located and acquired additional mining prospects demonstrating fluorspar mineralization, and consolidating the Spor Mountain Fluorspar District.