Applied Minerals and HCT Group have announced the signing of a letter of intent to form a joint venture to 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 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.
Tim Thorpe, president of HCT, commented, " 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."
Andre Zeitoun, president and CEO of Applied Minerals, further said, "We are very excited to have established this partnership with an industry leader like HCT. Their award-winning consumer product innovations and turnkey manufacturing capabilities have earned them the trust of the largest brands in the marketplace."