What is Fluorspar?

Fluorspar is recognized as a critical mineral in the United States, serving as an essential resource for both national security and a wide array of industrial applications. Its unique chemical properties make it irreplaceable in the production of electric vehicle batteries, modern refrigerants, and hundreds of other chemical products that are vital to everyday life and advanced manufacturing. In addition to these uses, fluorspar plays a key role in the production of steel and aluminum, two foundational materials that underpin construction, transportation, and countless other sectors.

Beyond its industrial importance, fluorspar is crucial for uranium enrichment, a process that enables the production of nuclear fuel necessary for the rapidly expanding clean energy sector. As the world transitions toward greener energy solutions, the demand for nuclear power is rising, making fluorspar even more strategically important.

Currently, China dominates the global fluorspar market, producing approximately 69% of the world’s supply. However, China has recently shifted from being a net exporter to a net importer, driven by increasing domestic demand and a shrinking internal supply. This shift has significant implications for the global market, as it intensifies competition for available resources and increases supply chain risks for other countries.

Looking ahead, the demand for fluorspar is projected to double by 2033, fueled by the rapid growth of electric vehicles, high-tech industries, and the ongoing green revolution. Despite this surging demand, there is currently no fluorspar production in either Canada or the United States, creating a significant supply gap for North American industries. This lack of domestic production underscores the urgent need to develop secure, sustainable sources of fluorspar to support economic growth, technological advancement, and national security in the years to come.

Fluorspar resources are being depleted on a global basis, most rapidly in China, which has seen a significant decline in exports due to falling reserves and increased domestic consumption. Benchmark Minerals Intelligence forecasts a structural shortage of fluorspar to emerge from 2026, with a projected supply deficit of 900,000 tonnes by 2030-about 10% of expected global demand, especially in the acid-grade segment.

Additionally, high-quality fluorspar reserves are becoming harder to find, while major producers like China have put export restrictions in place as domestic supplies dwindle and the country has shifted from being a net exporter to a net importer in recent years. This tightening supply situation is driving concerns over long-term availability and highlights fluorspar as a depleting known worldwide resource