Mining Brief: Fluorspar Market Realizing Increased Demand as Fluorine Uses Increase

PALM BEACH, Fla., Aug. 31, 2020 /PRNewswire/ — Fluorspar, the name used for fluorite when it is sold as a bulk material or in processed form, is not an often discussed mining product. Fluorite has a wide variety of uses. The non-stick cooking surface known as Teflon is made using fluorine derived from fluorite. The primary uses are in the metallurgical, ceramics, and chemical industries; however, optical, lapidary, and other uses are also important. Recent industry reports project that the global Fluorspar Acid Grade market size is expected to reach US$ 2800.1 million by the end of 2026, with a CAGR of 8.9% during 2021-2026. Fluospar is sold in different grades including acid, metallurgical and ceramic. Acid grade fluorspar is a high-purity material used by the chemical industry. It contains over 97% CaF(2). Most of the fluorspar consumed in the United States is acid grade even if it is used in lower grade applications. It is used mainly in the chemical industry to manufacture hydrofluoric acid (HF). The HF is then used to manufacture a variety of products which include: fluorocarbon chemicals, foam blowing agents, refrigerants, and a variety of fluoride chemicals. Fluorspar is also used directly or indirectly to manufacture products such as aluminum, gasoline, insulating foams, refrigerants, steel, and uranium fuel. Byproduct fluorosilicic acid production from some phosphoric acid producers supplements fluorspar as a domestic source of fluorine. Active stocks in the markets this week include Ares Strategic Mining Inc. (OTCQB: ARSMF) (TSX-V: ARS), Commerce Resources Corp. (OTCPK: CMRZF) (TSX-V:CCE), Lion One Metals Limited (OTCQX: LOMLF) (TSXV: LIO), McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), Saville Resources Inc. (TSX-V: SRE).