France's Arkema invests to develop Canada fluorspar mining project

15 June 2011 19:19  [Source: ICIS news]

TORONTO (ICIS)--French chemicals producer Arkema has agreed with Canada Fluorspar to invest Canadian dollar (C$) 100m ($102m) to jointly develop a fluorspar mine in Canada’s eastern Newfoundland province, it said on Wednesday.

The project will secure fluorspar supplies for Arkema’s North American fluorochemicals operations, it said.

Arkema and Canada Fluorspar will be equal partners in the mine, which is expected to start up in early 2013, Arkema said.

“The investment of some C$100m will provide Arkema with long-term competitive access to strategic feedstock for its fluorochemicals operations in North America," it said.

Fluorspar is the key feedstock in the production of hydrofluoric acid, the main raw material for the production of refrigerant gas and fluoropolymers.

The European Commission has identified fluorspar as a critical raw material to which European chemicals need to have access.

Arkema is a global player in the fluorine product chain, with production sites in Calvert City, Kentucky, US;  Pierre-Benite, France; Zaramillo, Spain; and Changshu, China.

($1 = C$0.98)

For more on Arkema and other producers visit ICIS company intelligence

By: Stefan Baumgarten
+1 713 525 2653

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