Ares Strategic Mining (CSE: ARS | OTC: ARSMF) is rapidly stepping into a role it has long prepared for: becoming the only domestic source of fluorspar and gallium in the USA.
The company’s 100%-owned Lost Sheep Mine and nearby processing facilities in Delta, Utah are already recognized as the only fully licensed and permitted fluorspar operation in the country. Production is expected to begin later in 2025, primarily producing acidspar—the highest-purity form of fluorspar used in aluminum production, refrigerants, steelmaking, and lithium-ion batteries.
The company has also confirmed a significant upside: the discovery of gallium within the same geological system. Based on internal assessments and third-party assays, Ares recently reported that the gallium concentrations in Lost Sheep’s fall within ranges considered viable for commercial extraction. Gallium’s value in semiconductors, 5G devices, and defense technology makes it a key component of U.S. critical mineral policy, further reinforcing Ares’ position as a domestic supplier of strategic materials – a role highlighted earlier this year as federal priorities shifted toward critical mineral independence.
The $11 Million funding they needed
In June 2025, the company secured an $11 million loan from the Utah State, significant funding to get ore on trucks and see first revenue for the company.
Utah State Senator Jerry Stevenson, who championed the funding, noted, “Fluorspar and gallium are essential to U.S. national security and economic stability. Establishing a domestic supply for these critical minerals is a priority.”
“We are immensely thankful to the Utah Legislature and the CIB for their support,” said James Walker, CEO of Ares Strategic Mining. “Utah’s investment in Ares underscores a strategic commitment to rebuilding critical mineral supply chains in the U.S.”
Strategic partnerships strengthen position
In January 2025, Ares settled share-based agreements with MIB & S Partners and Roy EI Durr, partners supporting the company’s regulatory, lobbying, and operational development. These partnerships enable Ares to conserve capital while expanding its influence within critical mineral policy networks.
In April 2025, UK-based Sorbie Bornholm LP significantly increased its equity stake in Ares by a further $1 Million, deepening a relationship that began in 2024. The firm’s commitment underscores international confidence in Ares’ fluorspar and gallium operation.
A critical first-mover advantage
Ares’ Lost Sheep property spans 5,982 acres across 353 contiguous claims, and is backed by NI 43-101 technical reports showing extensive high-grade, low-impurity fluorspar reserves. Its confirmed gallium grades are a bonus for stakeholders, as co-product production is planned down the line.
Ares is closer than ever to operational status, giving it a first-mover advantage in a market where future competition will face years of regulatory delays.
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Fluorspar – A 60 Second Primer
Fluorspar is a critical mineral used in a wide range of industries, including steel, aluminum, and cement production, as well as in the manufacturing of lithium batteries. The critical mineral is essential to the production of lithium batteries, which are vital to the powering of EVs. As the demand for EVs continues to rise, so too goes the demand for fluorspar. The U.S. imports 100% of its high-purity fluorspar, making it reliant on foreign suppliers. This situation has prompted the U.S. government to list fluorspar on its strategic reserves, highlighting its importance to the nation’s economy.
In its natural state, fluorspar presents in various colors, including purple, green, yellow, and blue. While it has many applications, possibly the most important application of acidspar (a higher grade version of fluorspar) is its use in creating hydrofluoric acid for refrigerants, pharmaceuticals, electronics, and it is a vital element in lithium-ion battery production.
For an in-depth review of U.S policy changes affecting Ares, read about Securing America’s Fluorspar Future: What Trump’s New Policies Mean for ARES Strategic Mining
Check out the outlook for gallium mining at the Lost Sheep Mine in our video feature.
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