Miners Seeing Production Shift for the Fluorspar Billion Dollar Market
PALM BEACH, Fla., Dec. 22, 2020 /PRNewswire/ 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 c
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Representative image The company’s CEO said the acquisition marks the start of “a new chapter in the history of the steel business in the United States.”
Flat-rolled steel and iron ore pellets manufacturer Cleveland-Cliffs Inc. finished its acquisition of steelmaker ArcelorMittal USA and its subsidiaries from its parent company ArcelorMittal this month, the parties announced in separate releases.
“The sale of ArcelorMittal USA is an opportunity to create excellent value for our shareholders and reposition our North American footprint on our most competitive assets, for which we have targeted growth plans,” Lakshmi Mittal, chairman and CEO of ArcelorMittal, said in a statement. “The recently announced EAF at Calvert and the new hot strip mill in Mexico, which will complete next year, will further enhance these assets and ensure we have the flexibility and quality to meet demand, particular for higher-added value products. We intend to remain a strategic player in
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This morning in metals news: the Energy Information Administration (EIA) released its Short-Term Energy Outlook; the China Iron and Steel Association (CISA) wants to know why iron ore prices are soaring; and the CEO of
Cleveland-Cliffs touted the company’s plans for steel in the region after its acquisition of
ArcelorMittal USA.
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EIA releases Short-Term Energy Outlook
The EIA released its Short-Term Energy Outlook last week, noting the average Brent crude price in November rose by about $3 per barrel compared with the previous month.
Lourenco Goncalves, who has more than 30 years of experience in the mining and metals sector, had an ambitious plan to strengthen Cleveland-Cliffs, Inc. as an industry leader by consolidating much of the integrated steel production in America when he took over six years ago.
Last week, months after the longtime mining company bought out AK Steel, his plan came to fruition when Cleveland-Cliffs completed an acquisition of most of ArcelorMittal USA s assets. The merger that s been called a megadeal and blockbuster deal will result in a seismic shift in the domestic steel industry and a historic change of ownership for many of the integrated steel mills along Northwest Indiana s lakeshore.
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