By: Stephen Downer
November 28, 2012
MEXICO CITY (Nov. 28, 3:35 p.m. ET) — Chemical products specialist Mexichem SAB de CV says its fluoropolymer and fluoroelastomer activities have been boosted by the company winning a concession to mine fluorite in the municipality of Múzquiz, in the northern state of Coahuila.
“Thanks to this [contract] award, Mexichem will continue to lead the fluorochemicals market, increasing its competitiveness globally and strengthening its ability to develop the fluoropolymer and fluoroelastomer projects that are part of its growth strategy,” the Tlalnepantla-based company said in a Nov. 27 filing with the Mexican Stock Exchange.
Mexichem said the fluorite deposits in Múquiz potentially total 4.96 million tons, “equivalent to 10 additional years of reserves for Mexichem Flúor,” Mexichem’s fluorite division, the company said.
Flúor says its fluorite mine, Las Cuevas, in the state of San Luis Potosí is the world’s largest, a claim confirmed by international mining company Globe Metals and Mining Africa Ltd. of Malawi, which publishes newsletters for the minerals mining industry.
According to Globe, the world reserves of fluorite are estimated at 240 million tons, with the largest reserves located in South Africa (41 million tons), Mexico (32 million tons) and China (24 million tons).