Ares completes acquisition of processing facility from Mujim

Ares Strategic Mining has closed its acquisition of a fluorspar lump manufacturing facility from the Mujim Group.
Ares completes acquisition of processing facility from Mujim Ares completes acquisition of processing facility from Mujim Ares completes acquisition of processing facility from Mujim Ares completes acquisition of processing facility from Mujim Ares completes acquisition of processing facility from Mujim

Ares broke ground at the Delta site in May

The processing plant is designed to manufacture high-grade fluorspar lumps for industry. The Mujim Group, which operates several fluorspar mines in Thailand and Laos, developed a technology to produce fluorspar lumps from material that was previously unsuitable for manufacturing lumps.

Ares stated that the plant will be the first production line in its expanded Delta fluorspar mining operation in Utah, US.

Mujim will be supporting Ares as it commissions its processing facility. It is anticipated to reach production readiness in the third quarter of 2021.

Ares agreed to acquire the facility from Mujim for an aggregate purchase price of US$2 million, in accordance with the terms of a profit-sharing agreement. The company will also pay Mujim US$20/t to cover the ongoing technical updates and guidance services relating to the facility. In addition, Ares will pay US$10/t when it begins lump production operations and achieves agreed upon production targets.

Ares broke ground at the Delta site in May in preparation for the plant's installation.