Applied Minerals Receives Initial Purchase Order for its DRAGONITE for a Corrosion-Resistant Coating Application

Rhea-AI Summary

Applied Minerals (OTC:AMNL), a producer of halloysite clay and natural iron oxides, announced on June 21, 2022, an initial purchase order for 2,200 lbs. of its DRAGONITE halloysite clay. This order is intended for use in a corrosion-resistant coating formulation. Halloysite clay's unique structure enhances its ability to carry and release inhibitors for metal protection, tapping into a growing market for eco-friendly coatings. The company is actively seeking additional opportunities within this lucrative segment.

Positive

• Received initial purchase order for 2,200 lbs. of DRAGONITE halloysite clay.
• Targets high-value market for environmentally friendly coatings.

Negative

• None.

EUREKA, UT / ACCESSWIRE / June 21, 2022 / 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.

The Company looks forward to providing additional updates in the future.

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.

Investor Relations Contact:

Christopher Carney
President and CEO
info@appliedminerals.com

SOURCE: Applied Minerals, Inc.

View source version on accesswire.com:
https://www.accesswire.com/705916/Applied-Minerals-Receives-Initial-Purchase-Order-for-its-DRAGONITE-for-a-Corrosion-Resistant-Coating-Application

FAQ

What is the significance of Applied Minerals' initial purchase order for DRAGONITE?

The initial purchase order signifies market demand for DRAGONITE halloysite clay in corrosion-resistant coatings, highlighting potential revenue growth for Applied Minerals.

What applications does halloysite clay from Applied Minerals serve?

Applied Minerals' halloysite clay is used in various high-value applications, including catalysts, polymer reinforcement, flame retardants, and corrosion-resistant coatings.

When was the initial purchase order for DRAGONITE announced?

The initial purchase order for DRAGONITE was announced on June 21, 2022.

How does halloysite clay enhance corrosion-resistant coatings?

Halloysite clay's tubular structure allows for efficient carrying and release of corrosion inhibitors, improving the performance of coatings for metal products.

What are the growth prospects for Applied Minerals following the purchase order?

The purchase order positions Applied Minerals to explore further opportunities in the growing market for environmentally friendly coatings, potentially increasing its market share.