Fluorspar – A Critical Mineral with Strategic Importance
Fluorspar is a mineral you may not be familiar with, but this critical mineral is becoming increasingly important in the West as China’s control over global supply threatens the sustainability of Western industries reliant on imported fluorspar.
Securing domestic sources of fluorspar in countries like the US has become a strategic priority for national governments. The US, in particular, has initiated a range of measures to increase domestic production of critical metals like fluorspar, such as streamlining approvals and financial support. This creates a favourable environment for companies looking to move domestic fluorspar projects into production.
As of 2025, the global fluorspar market is valued at approximately US$2.1 billion and is projected to reach US$3.3 billion by 2035, growing at a compound annual growth rate (CAGR) of 4.5% (Figure 1).
Figure 1: Forecast Growth in the Value of the Global Fluorspar Market
Source: Fact.MR
What is Fluorspar Used For?
Fluorspar, also known as fluorite, is a critical mineral essential for various industrial applications due to its high fluorine content. Fluorspar is categorised into different grades depending on its quality:
- Acidspar is a high-purity form (97% CaF2) used to produce industrial chemicals, such as hydrofluoric acid and aluminium fluoride, which are essential for manufacturing refrigerants, fluoropolymers, and pharmaceuticals.
- Ceramicspar is a slightly lower purity form (85%-95% CaF2) and is used in the production of opalescent glass, enamels, and ceramics, as well as in sanitary ware and speciality ceramics.
- Metspar is another lower purity form (60%-85% CaF2) that is used for metallurgical flux in steel and aluminium smelting to lower the melting point of raw materials and aid in impurity removal.
- Cementspar is the lowest-grade form of fluorspar (40%-50% CaF2). It is used in the cement industry to create more durable and weather-resistant cement products.
Pricing
The price of each grade of fluorspar varies based on global supply and demand, but also based on other factors like the supplier’s location. The fluorspar market is less structured compared to some metals, and fluorspar pricing is often based on contracts negotiated directly between buyers and sellers. The agreed price depends on factors like volume, location, and long-term relationships, making price transparency challenging.
In the first quarter of 2024, the average import unit value of acidspar in the U.S. was approximately US$423 per tonne, while the prices for Chinese acidspar were higher, reaching US$540 – 590 per tonne. The average import unit value of metspar in the US was around $223 per tonne in the first quarter of 2024, while Chinese metspar was considerably more expensive at $490 per tonne.
Global Supply and Demand
Global fluorspar production in 2025 is estimated to total 8.01 million tons, rising to 9.20 million tons by 2030 at a CAGR of 2.80%.
China dominates fluorspar supply, accounting for about 62% of global output, or roughly 5.8 million tons in 2024, though its role is shifting from major exporter to net consumer due to rising domestic demand, stricter environmental regulations, and the depletion of high-grade reserves.
The chemical industry accounts for 70-75% of fluorspar consumption (acidspar), the metallurgical sector, including steel and aluminium production, consumes about 15-20% of the supply, while ceramics and cement production take up the balance.
The use of fluorspar in lithium-ion batteries for electric vehicles, where fluorine compounds like LiPF₆ enhance electrolyte performance, is anticipated to be a significant growth driver for the market, with the battery segment projected to expand at a CAGR of 21.4% from 2025 to 2032.
US Fluorspar Dynamics
The US has no domestic production of fluorspar and relies entirely on imports for its estimated annual consumption of 400,000 – 500,000 tons, making import dependence a key vulnerability. Since 2017 the price of fluorspar in the US has steadily increased from US$267/t to US$470/t in 2024 (Figure 2) .
Figure 2: Price of US Fluorspar 2014 to 2024
Figure 2: Price of US Fluorspar 2014 to 2024
Source: Statista
The US is 100% import-dependent, with China supplying 60% of global fluorspar production, posing a significant risk of supply disruptions that could lead to a probability-weighted GDP decline of US$14 million per year, which is comparable to that of lithium.
The growing demand for lithium-ion batteries, driven by the global transition to electric vehicles , is a key growth driver for fluorspar. Fluorine compounds like lithium hexafluorophosphate (LiPF₆), derived from acidspar, are critical for enhancing electrolyte performance, improving battery efficiency, and extending lifespan.
With global EV sales projected to reach 31.1 million units annually by 2030, the fluorspar market’s battery segment is expected to grow at a CAGR of 21.4% from 2025 to 2032, creating significant opportunities for domestic producers.
As a result, fluorspar has been designated a critical mineral by the US Geological Survey (USGS) due to its role in national security and economic stability. However, efforts to revive US-based fluorspar production are underway, with CleanTech Vanadium developing the Kentucky-Illinois Fluorspar Project to supply critical minerals domestically.
CleanTech Vanadium Mining Corp.
CleanTech Vanadium Mining Corp. (CleanTech CTV TSXV: CTV.V; OTCQB: CTVFF) has created the Illinois-Kentucky Fluorspar Project through a series of four acquisitions completed in the second half of this year, which has driven the share price up by over 1,000%.
Last week, the company closed its most recent acquisition by securing the Quarant Fluorspar Property, doubling the size of the Illinois-Kentucky Fluorspar Project to 15,975 acres, making it a strategic asset and establishing CleanTech Vanadium as one of the largest fluorspar mineral right holders in the US.
The Illinois-Kentucky Fluorspar Project
The Illinois-Kentucky Fluorspar Project (Figure 3) contains numerous known fluorspar occurrences, with historic resource estimates over ten deposits, totalling 1.7 million tons of contained calcium fluoride (Figure 4). The area has seen over 150 years of fluorspar exploration and mining, with over 12.5 million tons of refined fluorspar and 20 million tons of crude fluorspar produced.
Figure 3: The Illinois-Kentucky Fluorspar Project Map
The Illinois-Kentucky Fluorspar Project Map
Source: CleanTech Vanadium Mining Corp.
Figure 4: Tonnage, Grade and Contained Calcium Fluoride from Historic Resources at the Illinois-Kentucky Fluorspar Project
Figure 4: Tonnage, Grade and Contained Calcium Fluoride from Historic Resources at the Illinois-Kentucky Fluorspar Project
Source: MMRC. Bubble size proportional to contained calcium fluoride
This Illinois-Kentucky Fluorspar Project also covers 18 km of the Western Kentucky Fluorspar District’s most productive fault systems, containing the potential for underexplored extensions of proven systems.
Between 1915 and 1995, the assets that make up the Illinois-Kentucky Fluorspar Project produced 90% of America’s fluorspar. Mining ended in the area when China flooded the international fluorspar market in the mid-1990s causing the price to drop and making these operations uncompetitive.
More recently China has become a net importer of fluorspar after a series of environmental regulations and policies, such as stricter mining quotas and carbon reduction goals have reduced China’s exports.
As a result, prices have steadily risen, creating an exciting opportunity for CleanTech Vanadium to recommence production at these historic operations, leveraging the proximity to industrial hubs extensive infrastructure that reduces operational and capital costs, as well as all the historic data from the numerous deposits that reduces operational costs and exploration risk.
With over 745 historic drill holes, 10 historic resource estimates, and numerous historic mines, CleanTech has through some impressive deal-making, secured a large, and strategically located, advanced development ready fluorspar project at a limited cost.
Junior Mining Insights Newsletter Mining and Metals Research Corporation
Disclaimer
This newsletter has been published by Mining and Metals Research Corporation (“the Company”). The information used to compile the article has been collected from publicly available sources, and the Company cannot guarantee the 100% accuracy of those sources. This communication is intended for information purposes only and does not constitute an offer, recommendation, or solicitation to make any investments. Nothing in this communication constitutes investment, legal, accounting or tax advice, or a personal recommendation for any specific investor. The Company does not accept liability for loss arising from the use of this communication. This communication is not directed to any person in any jurisdiction where, by reason of that person’s nationality, residence or otherwise, such communications are prohibited. The Company may derive fees from the production of this newsletter.