Applied Minerals Receives Initial Purchase Order for its DRAGONITE for a Corrosion-Resistant Coating Application
June 22, 2022 at 10:07 am EDT
Share
EUREKA - Applied Minerals, Inc. (the 'Company' or 'AMI') (OTC: AMNL), a leading producer of halloysite clay and natural iron oxides for high-value industrial applications, has received an initial purchase order for 2,200 lbs. of its DRAGONITE halloysite clay for use in a corrosion-resistant coating formulation for metal products.
Halloysite clay's unique tubular structure allows it to carry and release, in an efficient manner, an array of inhibitors commonly used in corrosion-resistant formulations for metal products. The high-value market for environmentally friendly coatings for metal products is large and presents a very attractive opportunity for AMI's DRAGONITE halloysite clay products. Management is pursuing additional prospects within this market segment.
About Applied Minerals, Inc.
Applied Minerals, Inc., the owner of the Dragon Mine property in Eureka, UT, is a producer of halloysite clay and natural iron oxides. Halloysite is aluminosilicate clay that possesses a naturally formed tubular structure. The Company markets its halloysite clay and iron oxide products into a number of high-value application areas including, but not limited, catalysts and molecular sieves, polymer reinforcement, flame retardant additives, controlled release, construction products and lithium-ion battery minerals. Applied Minerals sells its halloysite products under the DRAGONITE trade name its iron oxide products under the AMIRON trade name.
Safe Harbor Statements
The following are safe harbor statements under the Private Securities Litigation Reform Act of 1995 for Applied Minerals, Inc. Some statements contained or implied in this news release may be considered forward-looking statements, which by their nature are uncertain. Consequently, actual results could materially differ. For more detailed information concerning how risks and uncertainties could affect the Company's revenue pipeline, please refer to Applied Minerals' most recent annual and quarterly reports filed with the SEC. The Company assumes no obligation to update any forward-looking information.
Applied Minerals, Inc. owns the Dragon Mine in central Utah. From the mine the Company extract, process or has processed by a third party, halloysite clay and iron oxide for sale to a range of end markets. The Company markets the minerals directly and through distributors. It is also engaged in research and development and frequently works collaboratively with customers, consultants, distributors; and a third-party processor to process and enhance its halloysite clay products to improve the performance of its customersâ existing and new products. Its halloysite clay, which the Company markets under the DRAGONITE trade name, is an aluminosilicate mineral with a hollow tubular shape. DRAGONITE can utilize halloysiteâs shape, high surface area, and reactivity to add significant functionality to a number of applications. The Companyâs iron oxide, which it markets under the AMIRON trade name, sales for use in cement, as well as an absorbent for hydrogen sulfide gas contained in natural gas.
APPLIED MINERALS, INC. 
