Ares Strategic Mining Inc. has been awarded a $168,938,267.30 contract by the U.S. Department of Defense through the Defense Logistics Agency, marking a significant development in efforts to strengthen domestic critical mineral supply chains. The five-year Indefinite Delivery/Indefinite Quantity agreement includes a total contract ceiling of up to $250 million through potential future task orders.
The contract establishes Ares as a sole-source domestic supplier of acid-grade fluorspar to the U.S. government, positioning the company at the center of national efforts to rebuild strategic mineral stockpiles. Acid-grade fluorspar, designated as a critical mineral by the U.S. government, is essential for defense systems, missile technology, steel and aluminum production, fluorochemical manufacturing, semiconductors, batteries, and next-generation electronics.
"This is the kind of contract that transforms companies, and secures the future of U.S. industry," said James Walker, CEO of Ares Strategic Mining. "We're not just producing fluorspar; we're helping build a more resilient and secure domestic supply chain for critical minerals." The award represents a major milestone for the company and strengthens its positioning as a strategic domestic supplier of this essential material.
Historically, the United States has been 100% import-dependent for fluorspar, making the establishment of a domestic supply chain a critical national priority. This contract validates the importance of Ares' Utah-based Lost Sheep Project and supports the U.S. government's mission to invest in more resilient national supply chains by prioritizing domestic sourcing. The Lost Sheep Fluorspar Project in Delta, Utah encompasses 5,982 acres with 353 claims in the Spor Mountain area, approximately 214 km southwest of Salt Lake City, and holds fully permitted mining operations.
Walker added that "This award reflects the U.S. government's commitment to revitalizing a long-neglected critical mineral supply chain. We are proud to support the U.S. government's strategic material reserves by supplying domestically sourced, high-grade acidspar." The contract ensures Ares' products will directly contribute to national resilience, industrial strength, and long-term security while supporting the rebuilding of U.S. strategic mineral capabilities.
The implications of this contract extend beyond immediate financial benefits to Ares Strategic Mining. By establishing a reliable domestic source for acid-grade fluorspar, the United States reduces dependence on foreign suppliers for a material essential to defense readiness and advanced manufacturing. This development supports broader initiatives to strengthen domestic manufacturing and supply bases while promoting long-term growth through strategic mineral independence. The contract represents a tangible step toward addressing vulnerabilities in critical mineral supply chains that have been identified as national security concerns.
