OSBURN, Idaho, Jan. 19 /Xinhua-PRNewswire/ -- Atlas Mining Company
(OTC Bulletin Board: ALMI), announced today that the company has sold 500 tons
of halloysite clay to NaturalNano Inc. and has agreed to collaborate in the
development and implementation of a proprietary separation process. Atlas and
its partner NanoDynamics will work closely with NaturalNano.
Atlas Mining was awarded the supply contract by NaturalNano Inc., a
technology firm that develops new processing techniques and commercial
applications of natural nanoscale materials. The supply agreement could make
Atlas one of the world's largest providers of a unique mineral that contains
natural nanotubes -- hollow tubes that are billionths of a meter in diameter.
Researchers believe the natural nanotubes can become a central component of a
new generation of nano-engineered products and technologies.
William Jacobson, CEO of Atlas Mining said, ''NaturalNano has taken a very
serious interest in our unique halloysite due to its tubular structure. They
specialize in processing systems for nano-size materials, and we think that by
utilizing their system, we can create an even greater value for our product.''
NaturalNano has remitted an initial payment of $125,000 and will process the
clay on-site at Atlas Mining's Dragon Mine in Juab County, Utah for its own
use. ''The future value of this product is not yet known. However, we expect
to realize over $500 per ton for this order and will end up with a processing
method that will bring us even greater value,'' stated Jacobson. Atlas will
have the right to license NaturalNano's proprietary separation process once
The Dragon Mine halloysite clay contains naturally occurring halloysite
nanotubes, based on an inorganic molecule composed of aluminum, silicon,
hydrogen, and oxygen, which formed in the earth from hydrothermal alteration
and surface weathering of aluminosilicate minerals. Like carbon nanotubes,
halloysite nanotubes are long, hollow tubes, allowing them to store and
deliver a variety of materials, with external diameters ranging from less than
100 nanometers (nm.) up to several microns (or micrometers) and internal
diameters ranging from under 20 nm. to 200 nm. or more.
Unlike carbon nanotubes, naturally occurring halloysite nanotubes are
inexpensive, readily available in quantity, environmentally benign, and safe
and easy to process. Halloysite nanotubes don't clump together, making them
ideal for use in electronic fabrication and other high-tech ceramic-composite
applications. The potential marketplace for naturally occurring nanotubes
crosses numerous industries, representing significant potential revenues.
''It is our intent to work directly with NaturalNano and NanoDynamics to
provide industrial users with a refined and predictable nanotubular
material,'' concluded Jacobson.
About Atlas Mining Company
Atlas Mining Company is a diversified natural resource company with its
primary focus on the development of the Dragon Mine in Juab County, Utah, the
only known commercial source of halloysite clay outside of New Zealand. The
unique purity and quality of the Dragon mine halloysite is unmatched anywhere
in the world and has spawned considerable research into new and exciting
applications for this product. Atlas also holds mining and timber interests
in Northern Idaho, and operates an underground mining contracting business.
Atlas stock trades on the OTC Bulletin Board under the symbol "ALMI." More
information about Atlas Mining Company can be found at
About NaturalNano Inc.
NaturalNano, a subsidiary of Technology Innovations, LLC
( http://www.tillc.com ) based in Rochester, N.Y., was formed to pursue
processing and applications of naturally occurring nanoscale materials such as
halloysite or materials that can be manufactured at very low cost and in high
quantity. NaturalNano currently has a team of scientists and engineers
developing new processing methods as well as commercial applications for
halloysite. More information about NaturalNano can be found at
http://www.naturalnano.com , or by contacting company representatives at
585-214-8000 or firstname.lastname@example.org.
About NanoDynamics, Inc.
NanoDynamics, Inc. is a leading company in the field of nanotechnology and
manufacturer of superior nanomaterials that will dramatically improve the form,
function and performance of a wide range of both industrial and consumer
products. The Company is uniquely positioned, utilizing proprietary and
protected technologies, to commercially manufacture economical, high quality
nanomaterials that will enable revolutionary advancements in industries
including electronics, semiconductors, consumer products, fuel cells,
transportation, energy and biotechnology. For further information, please
visit the Company's website at http://www.nanodynamics.com .
For more information, please contact:
For Atlas Mining Company:
John Roskelley, President,
First Global Media
Michael Riedlinger, VP New Business Development,
Technology Innovations, LLC
SOURCE Atlas Mining Company