The recently released guide discusses the recent fluorspar shortages in the auto manufacturing industry and presents Ares Strategic Mining a source of the resource.
More details can be found at https://bit.ly/3oYVaoI
With this release, Ares Strategic Mining delivers a report to help auto industry pundits and manufacturing enthusiasts better understand the sourcing system in America’s auto industry. The report will also provide valuable insights on fluorspar and its utility as a critical element of vertical integration for electric vehicle (EV) manufacturing.
Ares Strategic Mining explains that fluorspar’s utility in producing lithium-ion electric batteries makes it an essential input for the auto industry and its recent shift to electric vehicle manufacturing.
A paper published on the United States Geological Survey website identified it as one of the at-risk mineral resources critical to the US. While the US remained the world’s leading producer of fluorspar until the 1970s, production started a sharp decline from that point, leaving the country dependent on imports.
According to Ares Strategic Mining’s report, more investments in fluorspar production are needed within the US if the increasing demand for lithium-ion batteries and EVs continues on the current trajectory. It adds that recent upheavals in global supply chains and worsening international cooperation would make sourcing difficult for US-based manufacturers within a few years.
The Ares Strategic Mining report also describes efforts the company has made to position itself as a major US-based supplier to the battery market. As against importations, the company will supply the US lithium-ion battery market through its recently acquired 5,982 acres fully permitted mine in the Spor Mountain area of Juab County, Utah.
About the Company
Ares Strategic Mining is a resource and mining company based in Vancouver, BC. The company currently owns the only permitted fluorspar mine in the US, with active exploration projects in Utah, Nevada, and British Columbia. Its CEO and president, James Walker, has several years of experience in mining and mechanical engineering, manufacturing, and project management.
A section of the report states, “The forecast demand for battery metals and the threat of looming supply crunches has triggered electric-vehicle makers to step in with investments in mining. Fluorspar is one such integral mineral which supports the development of commercial-ready li-ion electric batteries, required for the country’s transition to clean energy.”
Interested parties can find out more at https://bit.ly/3oYVaoI
Ares Strategic Mining Inc.
1001 – 409 Granville Street
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Courrier Quotidien journalist was involved in the writing and production of this article.