Board Considers $11 Million Ares Mining Loan
Utah Permanent Community Impact Fund Board | State of UtahState · Salt Lake City, UT- Disclosed value
- $11,000,000 loan
- From agendapacket
- Document date
- May 15, 2025
- Term
- 7 years @ 4.5%
The 30-second brief
The Permanent Community Impact Fund Board is considering an $11 million loan to Ares Strategic Mining for a fluorspar and gallium mining operation in Millard and Juab Counties. The proposed loan carries a 4.5% interest rate, with the agenda materials primarily describing a seven-year term.
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 @ 4.5%.
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Contract details
- Contract type
- Financial Services
- Amount
- $11,000,000 loan
- Document date
- May 15, 2025
- Term
- 7 years @ 4.5%
- Vendor
- Ares Strategic Mining
- Source document
- Permanent Community Impact Fund Board AgendaPacket May 15, 2025 CIB Meeting (AgendaPacket)
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.
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, covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a agendapacket record.
Where was this contract approved?
This contract appears in Permanent Community Impact Fund Board AgendaPacket May 15, 2025 CIB Meeting (AgendaPacket), 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.