Applied Minerals signs letter of intent with HCT Group to form cosmetics joint venture

Applied Minerals, a US-based global producer of Halloysite Clay solutions, has signed a letter of intent (LoI) with HCT Group, a US-based packing company for cosmetics industry, to form a joint venture to develop and market an all-natural line of specialty skincare products based on Dragonite Halloysite Clay.

The firm is planning to launch an initial line of products called Applied Minerals’ Dragonite-PureWhite, which aims to address the high-end skincare market and will also be used in formulating other cosmetic products such as fragrances, deodorants, color cosmetics, nail care products and extenders.

Containing a micro-tubular morphology, which is suitable for the cosmetics industry, Dragonite-PureWhite is a cosmetic-grade aluminosilicate clay mineral..

The product has been developed exclusively by Applied Minerals from its wholly owned Dragon Mine deposit in Utah.

According to the firm, the hollow micro-tubular structure can serve as a natural carrier for an extended/sustained-release of active ingredients, extending the life of a cosmetic application while upping its efficacy.

The firm said that Dragonite-PureWhite owing to its high surface area, cation exchange capacity and porosity, is equally effective when used without an active agent.

Dragonite-PureWhite is also effective at absorbing excess oil and toxins from clogged skin pores.

The effectiveness of Halloysite as an extremely effective acne bacterial reagent was proved during independent laboratory studies.

Proprietary products will be produced in the JV that will take advantage of these properties, providing considerable performance enhancements in products related to skin care, sun care, nail care, hair care, colour cosmetics, fragrances, deodorants, extenders and natural insect repellants.

HCT president Tim Thorpe said the firm is happy to be associated with Applied Minerals.

"The joint venture will call upon a world class R&D team to develop highly innovative consumer products featuring Applied Minerals’ unique material and technological know-how, allowing us to bring exclusive new products and concepts to HCT’s customers," Thorpe added