Ares Strategic Mining Inc. announce it has completed all the payments to purchase, fabricate, and assemble the Company's advanced and the only one of its kind in the country acidspar manufacturing facility. Acidspar is the highest-grade fluorspar product produced for industry and is one of the most ubiquitously used industrial minerals in manufacturing, with applications in the chemical, hydrofluoric acid, aluminum, electronics, li-ion battery, and refrigeration industries. This high-end industrial product requires a fluorspar purity of 97%+, which the new plant will provide.
Acidspar sells for a premium in the fluorspar market due to the vast number of industrial applications. The product composes over two-thirds of the United States' fluorspar market and is currently 100% imported from countries outside the United States.