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US$260-270/tonne Chinese Acid-Grade Wet Filtercake, Delivered (CIF) Rotterdam
(26 May 2016)
Tertiary Minerals plc (ticker symbol 'TYM') is an AIM-traded mineral exploration and development company building a significant strategic position in the fluorspar sector.
Fluorspar is an essential raw material in the chemical, steel and aluminium industries with no large scale commercial alternative, or recycling available. Tertiary controls two significant Scandinavian projects (Storuman in Sweden and Lassedalen in Norway) and a large deposit of strategic significance in Nevada USA (MB Project) from which the Company is planning to produce premium grade fluorspar – acid-spar.
A European Commission report has named fluorspar as one of its 20 'critical mineral raw materials' for which a predicted supply shortage would represent a substantial economic threat. The USA considers fluorspar as a strategic mineral and is currently importing 100% of its fluorspar.
Western Europe and North America are the largest acid-spar consuming regions outside China.
China's fluorspar exports have continued to decline since 2000 driven by increasing internal demand and production/export restrictions which sees the country evolving from a large net exporter to a potential net importer.
Based on the macroeconomic drivers the Company is strategically placed to capitalise on this position in the future by developing its 100% owned large fluorspar assets located in the USA and Europe.
Shares in the Company trade on AIM.