HCT Group announced its joint venture with Applied Minerals, Inc., a leading producer of Halloysite Clay . The venture will see the two companies develop and market an all-natural line of specialty skin care products based on Dragonite Halloysite Clay. The initial line of products will take advantage of the purity and performance of Applied Minerals’ Dragonite-PureWhite to address the high-end skin care market and will also be utilized in applications such as fragrances, deodorants, color cosmetics, nail products and extenders.
The global market for natural beauty products has grown exponentially in recent years along with the demand for unique natural carriers. In targeting this market, HCT and Applied Minerals are in preliminary discussions with branding and distribution partners that will complement and benefit from the key attributes of the all-natural product line to be developed and marketed by their joint venture.
Dragonite-PureWhite is a cosmetic-grade aluminosilicate clay mineral possessing a unique micro-tubular morphology ideally suited for the beauty industry. It is produced by Applied Minerals from its wholly owned Dragon Mine deposit in Utah.
Tim Thorpe, president of HCT, commented, “We are very excited to be working 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.”