The Alarming Reality - A Market on the Brink

China currently controls over 69% of the global fluorspar supply, according to USGS-cited data in IMFORMED’s 2023 Fluorine Forum report, and has recently shifted from being a major exporter to becoming a net importer due to rising domestic demand and shrinking reserves. This development has significant implications for the global market, especially for countries like the United States and Canada, which have no active fluorspar mines and are therefore entirely dependent on imports to meet their industrial needs.

This reliance on foreign sources creates a strategic vulnerability. The U.S. Department of Energy projects that by 2035, demand for fluorspar will outpace global production capacity by an estimated 40-70%, a shortfall that could severely impact critical industries such as automotive, electronics, steel, aluminum, and clean energy. In response to these growing concerns, both Canadian and U.S. governments have officially recognized the urgent need to establish secure, domestic sources of fluorspar to reduce dependence on imports and strengthen supply chain resilience.

As a result of these supply challenges, fluorspar prices have surged in recent years, and the market has become increasingly tight. This situation leaves Western nations dangerously exposed to potential geopolitical tensions, trade restrictions, and logistical disruptions that could further constrain access to this vital mineral. The combination of soaring demand, limited supply, and concentrated production underscores the importance of developing new sources of fluorspar in North America to ensure economic stability and national security for the future.