Ares Strategic Mining Provides Construction Update on Lumps Plant at Lost Sheep Project

Core Insights - Ares Strategic Mining Inc. has provided a significant construction update on its Lumps Plant at the Fluorspar Project in Utah, marking a major milestone as the only domestic fluorspar processing operation in the United States [1] Construction Progress - The construction of the Lumps Plant has reached an advanced stage, with all concrete foundations and pads completed [3] - Steel frame structures are being erected, and major vessels have been fabricated and welded into place [3] - Conveyor systems are being assembled, with visible segments installed across the site, and additional structural supports are being bolted into position [3] Strategic Importance - The Lumps Plant is crucial for Ares' strategy to produce high-purity fluorspar for North American markets, supporting industries such as steel and aluminum manufacturing, refrigerants, fluoropolymers, and critical minerals for nuclear fuel and semiconductors [4][6] Future Plans - Upcoming construction efforts are expected to lead to the completion of structural assembly, installation of conveyors, initiation of equipment fit-out, and testing and commissioning of plant systems [9] - The company aims to achieve production and revenue targets aligned with market demand for critical minerals [10]