Ares Strategic Mining Secures $169 Million Pentagon Contract for Critical Minerals
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Ares Strategic Mining Inc. has secured a $168.9 million contract from the U.S. Department of Defense through the Defense Logistics Agency. This five-year Indefinite Delivery/Indefinite Quantity (IDIQ) contract could reach a total value of $250 million with additional task orders. Ares will be the sole domestic supplier of acid-grade fluorspar, aiding in the replenishment of U.S. government stockpiles of critical minerals, which are vital for defense, manufacturing, and high-tech industries.
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