Ares Mining has recently acquired the only permitted and producing fluorspar mine in U.S. – Lost Sheep Mine. We are in the process of ramping up production through new equipment, designing a new plant tailored to our ore, acquiring new professional personnel and new strategic partners, and building a global customer base. We have offtake agreements with multinationals secured, and we are designing new mining plans to optimize output, as well as infrastructure investment so we can meet the demands of the large American market which currently has to import all its fluorspar from abroad.
We have ambitions to create a large mining operation, capable of producing industry-grade metspar and acidspar for the world markets, and a thriving, consistent, and healthy business through the next several decades.
President & CEO
James Walker has extensive experience in engineering and project management; particularly within mining engineering, mechanical engineering, construction, manufacturing, engineering design, infrastructure, safety management, and nuclear engineering.
James’ professional experience includes designing nuclear reactors, submarines, chemical plants, factories, mine processing facilities, infrastructure, automotive machinery, and testing rigs.
Mr. Walker holds degrees in Mechanical Engineering, Mining Engineering, and Nuclear Engineering, as well as qualifications in Project Management and Accountancy, and is a Chartered Engineer with the IMechE, registered as a Project Manager Professional with the APM, and registered with APEGA as an Engineer.
Mrs. Griffin is dedicated and knowledgeable Chartered Accountant who has over a decade of experience in her field. She started her career by leading audit and assurance services for public companies withlarge international accounting firms, including Deloitte in the UK and E&Y in Canada. Most recently, she led the CFO services line at Clearline CPA.
Viktoriya is now the CFO for a number of public companies on TSX Venture Exchange with national and international operations.
Mrs. Griffin provides financial insights and strategic advice enabling the businesses to grow. She is also an active supporter of her community by being a Board member and the Chair of the Audit and Finance
Committee of Habitat for Humanity of Greater Vancouver.
VP of Exploration & Fluorspar Expert
Mr. Sanabria has over 20 years of international experience as an exploration and mine geologist in a variety of mineral deposits. He started his career working 5 years for MINERSA Group, the largest European Fluorspar Producer. He recently worked as Senior Exploration Manager for Tudor Gold Corp, VP Exploration for Rover Metals Corp., Chief Geologist for Red Eagle Exploration, and VP Exploration of American Creek Resources Ltd., G4G Resources Ltd., and Northern Iron Corp. He was President and CEO of Condor Precious Metals Inc. Currently, he is President of Malabar Gold Corp./Minera La Fortuna SAS focused on small scale gold production and toll milling in Colombia.
Fluorspar is the commercial name for the naturally occurring mineral fluorite, composed of calcium and fluorine (CaF2).
Fluorspar is the predominant commercial source for the chemical element fluorine.
Fluorine is a non-metallic element and the lightest of the halogens and therefore largely irreplaceable in its use.
There are two principal commercial grades of fluorspar: Metallurgical grade (60-96% CaF2) and acid grade (+97% CaF2).
Metallurgical grade fluorspar accounts for approximately 35-40% of total fluorspar production with the principal applications being:
Steel production – used as a flux to lower the melting temperature and increase the chemical reactivity to help the absorption and removal of sulphur, phosphorus, carbon and other impurities in the slag
Cement – used as a flux to speed up the calcination process and enables the kiln to operate at lower temperatures
Acid grade fluorspar accounts for approximately 60-65% of total fluorspar production with the principal applications being:
Aluminium production – used to produce aluminium fluoride (ALF3) which acts as a flux to lower the bath temperature in the manufacture of aluminium
Manufacture of hydrofluoric acid (HF) – the primary source of all fluorochemicals (the single largest consumer of fluorspar), a wide range of applications include:
Fluorocarbons e.g. refrigerant gases, propellants, etc
Electrical and electronic appliances
Pharmaceuticals, polymers and agrochemicals
World production of fluorspar: 5.7Mt – 6.0Mt per year
The major producing regions are:
China (>50% of the world’s production)
The major consuming regions are:
Since the global financial crisis in 2009, there has been a contraction in acid-spar demand due to a combination of environmental legislation and demand – Fluorspar prices have followed such trend.
Acid grade fluorspar has historically commanded the highest price however the price gap between this and metallurgical grade fluorspar has reduced recently.
In 2017 prices for acid-spar have started to recover in China, export price for acid-spar (FOB China) – traditional benchmark price – is currently published as US$400-420/tonne.
The equivalent price delivered into Europe (CIF Rotterdam), published as US$300-340/tonne, has started to recover following the FOB China price recovery.
There are no net exporters of fluorspar in Europe and all EU Member States are reliant on imports.
China produces >50% of the world’s fluorspar.
Chinese fluorspar exports have continued to decline with acid-spar exports decreasing since 2011 – internal demand and production/export restrictions.
China may become a net importer in the future.
China listed fluorspar as a strategic mineral in 2017.
USA considers fluorspar as a Strategic Mineral.
North America and Europe are the largest acid-spar consumers outside China, all net importers – a potential risk to long term security of supply.
No large scale commercial alternative.
Future demand for fluorspar will highly depend on the development and use of fluorocarbon substitutes.
Industry view is that demand for acid-spar will increase by 4-5% per year over the next 5 years and prices are forecast to increase in the medium to long-term.
FN Media Group LLC (FNMG) owns and operates FinancialNewsMedia.com (FNM) which is a third party publisher that disseminates electronic information through multiple online media channels. FNMG’s intended purposes are to deliver market updates and news alerts issued from private and publicly trading companies as well as providing coverage and increased awareness for companies that issue press to the public via online newswires. FNMG and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNMG’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. The companies that are discussed in this release may or may not have approved the statements made in this release. Information in this release is derived from a variety of sources that may or may not include the referenced company’s publicly disseminated information. The accuracy or completeness of the information is not warranted and is only as reliable as the sources from which it was obtained. While this information is believed to be reliable, such reliability cannot be guaranteed. FNMG disclaims any and all liability as to the completeness or accuracy of the information contained and any omissions of material fact in this release. This release may contain technical inaccuracies or typographical errors. It is strongly recommended that any purchase or sale decision be discussed with a financial adviser, or a broker-dealer, or a member of any financial regulatory bodies. Investment in the securities of the companies discussed in this release is highly speculative and carries a high degree of risk. FNMG is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. This release is not without bias, and is considered a conflict of interest if compensation has been received by FNMG for its dissemination. To comply with Section 17(b) of the Securities Act of 1933, FNMG shall always disclose any compensation it has received, or expects to receive in the future, for the dissemination of the information found herein on behalf of one or more of the companies mentioned in this release. For current services performed FNMG has been compensated forty nine hundred dollars for Ares Strategic Mining Inc. current news coverage by a non-affiliated third party. FNMG HOLDS NO SHARES OF Ares Strategic Mining Inc.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG undertakes no obligation to update such statements.