Found Industries and ARES Strategic Mining Sign MOU to Advance Domestic Gallium, Germanium and Fluorspar Recovery from Utah’s Lost Sheep Mine

ARES Strategic Mining has entered into a memorandum of understanding with Found Industries to advance the domestic recovery of critical minerals from Utah's Lost Sheep Mine. The partnership specifically targets gallium, germanium, and fluorspar, three materials considered essential for various high-tech and defense applications.

The collaboration represents a strategic move to develop domestic supply chains for these critical minerals, which have become increasingly important for national security and technology sectors. Gallium and germanium are particularly vital for semiconductor manufacturing, while fluorspar is essential for aluminum and steel production as well as various chemical applications.

This partnership aligns with broader U.S. government initiatives to reduce dependence on foreign sources of critical minerals and develop domestic processing capabilities. The Lost Sheep Mine project could potentially contribute to establishing a more secure supply chain for these strategically important materials.

The timing of this announcement reflects growing industry focus on critical minerals development, particularly as geopolitical tensions have highlighted supply chain vulnerabilities in the technology and defense sectors. Success at the Lost Sheep Mine could serve as a model for other domestic critical minerals recovery projects across North America.