Profile: Applied Minerals Inc (AMNL.PK)
18 Jul 2019
Applied Minerals, Inc. (Applied Minerals), incorporated on October 9, 2009, is an exploration-stage company. The Company owns the Dragon Mine, from which it extracts, processes and markets halloysite clay and iron oxide for sale to a range of end markets. The Company is engaged in the research and development, and works collaboratively with customers to engineer its halloysite clay and iron oxide products. Halloysite, marketed by Applied Minerals under the DRAGONITE trade name, is aluminosilicate clay with a hollow tubular morphology. DRAGONITE utilizes halloysite's shape, high surface area and reactivity to add functionality to applications, such as plastic composites, flame retardant additives, paints and coatings, catalysts and environmental remediation media.
The Company is marketing its halloysite-based DRAGONITE products for various uses, such as flame retardant additives for plastics; nucleation of polymers; reinforcement fillers for polymers; molecular sieves and catalysts; ceramics; binders; cosmetics; cementing: controlled release carriers, and environmental remediation. The Company markets its AMIRON line of natural iron oxide-based products for various uses, such as pigments and technical applications; adsorbents (iron oxide can be used to remove arsenic, copper, lead, chromium, cadmium from drinking water), and weighting agents for drilling muds used in oil and gas drilling. Other applications include iron oxide for agricultural use, as an additive in pet food, and for steel casing in foundries. It has a mineral processing plant with a capacity of approximately 45,000 tons per annum for certain applications.
The Company's Dragon Mine is an approximately 267-acres property located in central Utah, over 70 miles southwest of Salt Lake City, Utah. There are two areas of the Dragon Mine minesite, at which mining is conducted, and they are referred to the Dragon Pit area and the Western Area. The Dragon Pit area covers approximately 4.95 acres and is mined underground. There are over three separate types of mineralized material in the Dragon Pit area. The Western area covers approximately 6.33 acres and is mined underground. There are over two different types of mineralization in the Western Area.
Applied Minerals Inc
110 Greene St Ste 1101
NEW YORK NY 10012-3824