PALM BEACH, Fla: During the current pandemic, most investors are focusing on gold or silver and other ores & metals, but fluorspar should also be on their radar... not because it trades like gold and silver, but because it is a necessary component in sectors that are projected to grow significantly over the next several years.

Fluorite is used for several purposes. The primary users are the chemical, metallurgical, and ceramic industries, but it is also an essential component in the lapidary and optical industry. There are three different grades of processed fluorite ceramic, metallurgical and acid. Acid grade fluorspar is the most purified form of fluorite and it is mostly used in the chemical industry to produce hydrofluoric acid that is used in the manufacture of fluorocarbon chemicals, refrigerants, and fluoride chemicals; Ceramic grade fluorspar is used in the manufacture of ceramics, specialty glass, and enamelware.

This mineral is also used as a component in the production of surface treatments and glazes. Teflon, which is used in the manufacture of non-stick cooking ware is made from fluorine; and Metallurgical grade fluorspar It is mostly used in the production of metals such as steel and iron. The mineral is used to extract impurities such as phosphorus and sulfur from molten ore and increase the fluidity of the slag.

An average of 40 pounds of fluorite is used to obtain a ton of metal, but metal manufacturers in the United States use purer fluorspar to achieve better quality steel. A report from Industry Research says that the global Fluorspar market size is projected to reach US$ 3160.7 million by 2026, from US$ 2616.4 million in 2020, at a CAGR of 3.2% during 2021-2026.

Active stocks in the mining markets this week include Ares Strategic Mining Inc. (OTCQB ARSMF) (TSX-V ARS), American Resources Corporation (NASDAQ AREC), McEwen Mining Inc. (NYSE MUX) (TSX MUX), Cleveland-Cliffs Inc. (NYSE CLF), Platinum Group Metals Ltd. (NYSE PLG) (TSX PTM).

A report from Global Market Insights added saying that the Fluorspar Market Size was estimated over USD 2 billion in 2016 and will exhibit growth by a CAGR of over 4% up to 2024. Another research report from ReserachAndMarkets upped that projection saying The fluorspar market is expected to grow at a CAGR of over 5% through 2025... the market for fluorspar in the Asia-Pacific region is projected to grow significantly during the study period.

An article from Investing News added While the Asia Pacific region holds a strong position in the global market for fluorite, North America and Europe are also expected to create new growth opportunities for fluorite market players in the coming years. Global players are increasingly focused on expanding their hold over natural mines and resources of minerals in order to meet the increasing demand for commercial materials such as fluorite across the region.

Miners Seeing Production Shift for the Fluorspar Billion Dollar Market

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