CHINA; MONGOLIA —Metal manufacturer and industrial trading firm Luda Technology Group Limited has entered into a non-binding, non-exclusive memorandum of understanding with Chuluut-International LLC. Under the agreement, Luda Technology will perform due diligence to evaluate the potential acquisition of 100 percent of the legally transferable mining rights and related operational assets associated with the Jonsh Tolgoi fluorspar project in Mongolia.
Luda Technology Group Limited is an NYSE American-listed enterprise specializing in the manufacture and distribution of stainless steel and carbon steel flanges, pipe fittings, and industrial supply chain solutions. Chuluut-International LLC is a Mongolian mining company holding mineral exploration and extraction rights in the country.
The proposed transaction aligns with Luda Technology's strategy to broaden its operational base beyond traditional steel product manufacturing into critical raw materials and industrial supply networks across Asia. Fluorspar serves as a vital flux agent in steel making and aluminum smelting, while acid-grade fluorspar provides the primary chemical feedstock for hydrofluoric acid used in lithium-ion battery materials, semiconductor production chemicals, and data center cooling fluids. Alongside evaluating mineral acquisitions, Luda Technology plans to initiate commercial trading of third-party Mongolian mineral commodities into Chinese markets.
This initiative highlights the growing strategic importance of securing upstream critical mineral reserves to support advanced industrial manufacturing and digital infrastructure. For steelmakers, battery component suppliers, and semiconductor chemical producers across East Asia, establishing stable fluorspar supply channels mitigates raw material volatility and strengthens regional integration across high-technology and energy storage supply chains.
