Board Reviews $11 Million Ares Mining Loan
Utah Permanent Community Impact Fund Board | State of UtahState · Salt Lake City, UT- Disclosed value
- $11,000,000 loan at 4.5% interest
- From agenda
- Document date
- May 15, 2025
- Term
- 7 years
The 30-second brief
The Permanent Community Impact Board is reviewing an $11 million, seven-year loan for Ares Strategic Mining. The financing would support fluorspar and gallium mining operations, processing facilities, ventilation, trucking, and plant construction in Millard and Juab Counties.
Ares Strategic Mining holds this financial services contract with Utah Permanent Community Impact Fund Board | State of Utah. Its other public contracts on record include work for Millard village.
Term as filed: 7 years.
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Contract details
- Contract type
- Financial Services
- Amount
- $11,000,000 loan at 4.5% interest
- Document date
- May 15, 2025
- Term
- 7 years
- Vendor
- Ares Strategic Mining
- Source document
- Permanent Community Impact Board Agenda May 15, 2025 (Agenda)
Ares Strategic Mining's other public contracts
More Utah Permanent Community Impact Fund Board | State of Utah contracts
Questions about this contract
Who was awarded the financial services contract by Utah Permanent Community Impact Fund Board | State of Utah?
Ares Strategic Mining was awarded this financial services contract by Utah Permanent Community Impact Fund Board | State of Utah, as recorded on May 15, 2025. The contract value is $11,000,000 loan at 4.5% interest.
How much is the Ares Strategic Mining contract with Utah Permanent Community Impact Fund Board | State of Utah worth?
The Ares Strategic Mining contract with Utah Permanent Community Impact Fund Board | State of Utah is valued at $11,000,000 loan at 4.5% interest, covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a agenda record, structured as a not-to-exceed (ceiling) agreement.
Where was this contract approved?
This contract appears in Permanent Community Impact Board Agenda May 15, 2025 (Agenda), dated May 15, 2025 from Utah Permanent Community Impact Fund Board | State of Utah. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Ares Strategic Mining hold?
Ares Strategic Mining may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is Utah Permanent Community Impact Fund Board | State of Utah currently buying?
Explore Utah Permanent Community Impact Fund Board | State of Utah's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.