Applied Minerals Receives Purchase Order for its Halloysite Clay for a Foaming Agent Application

Rhea-AI Summary

Applied Minerals (OTC:AMNL) has received a purchase order for 2,200 lbs. of its DRAGONITE halloysite clay. This product will be used as an additive in chemical foaming agents for polymer applications, aimed at reducing weight and improving performance in molded plastics. The market for these foaming agents is significant, presenting growth opportunities for DRAGONITE. The company is optimistic about future developments.

Positive

• Received a purchase order for 2,200 lbs. of DRAGONITE halloysite clay, indicating demand for the product.
• The use of DRAGONITE in chemical foaming agents is expected to enhance product performance.
• Significant market potential for chemical foaming agents in polymer applications.

Negative

• None.

EUREKA, UT / ACCESSWIRE / June 14, 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 as an additive in a chemical foaming agent application for polymers.

Foaming agents are generally used to reduce weight and eliminate sink marks in molded and extruded plastic parts. AMI's DRAGONITE halloysite clay, when used as an additive, has been shown to improve the performance of chemical foaming agents. The market size for chemical foaming agents for polymers is significant and presents a very attractive growth opportunity for AMI's DRAGONITE product.

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: About Applied Minerals, Inc.

View source version on accesswire.com:
https://www.accesswire.com/705037/Applied-Minerals-Receives-Purchase-Order-for-its-Halloysite-Clay-for-a-Foaming-Agent-Application

FAQ

What significant order did Applied Minerals (AMNL) receive?

Applied Minerals received a purchase order for 2,200 lbs. of DRAGONITE halloysite clay.

How is DRAGONITE halloysite clay used in applications?

DRAGONITE is used as an additive in chemical foaming agents for polymers.

What benefits does DRAGONITE provide in polymer applications?

DRAGONITE improves the performance of chemical foaming agents, reducing weight and eliminating sink marks in molded plastics.

What is the market potential for chemical foaming agents for polymers?

The market for chemical foaming agents is significant, presenting attractive growth opportunities for Applied Minerals.