CLAY COUNTY, Fla., July 13, 2021 /PRNewswire/ -- The Chemours Company (Chemours) (NYSE: CC), a global chemistry company with leading market positions in Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions, recently held a groundbreaking ceremony for a new $93 million mining facility on land leased from Camp Blanding in Clay County, Florida.
The project will use mining technology that minimizes environmental impact and was recently deployed at the company's Jesup, Georgia mining site. The new facility will incorporate Mobile Mining Units (MMUs), allowing for reduced dependency on traditional dredge mining processes. The MMUs allow the site to have much lower emissions, reduced dust levels, and lower safety risk versus using traditional haul trucks. In addition, the Trail Ridge South mining operations will recycle 98% of the water used in the mineral transport and separation processes—providing sustainable solutions while still meeting Chemours' commitment to process minerals.
"We view our mining projects as an opportunity to showcase our ability to extract essential minerals with an environmentally conscious approach that protects the planet and local wildlife—consistent with our company's commitment to sustainability," said Stuart Forrester, Director of Minerals Operations for Chemours.
Expansion of its mining operations will allow Chemours to have additional access to high-quality concentrated deposits of titanium and zircon mineral sands used to produce its Ti-Pure™ brand of titanium dioxide (TiO₂). Minerals mined by Chemours contain the elements Titanium and Zirconium, which are included in the U.S. Department of the Interior's 2018 list of critical minerals as they are vital to the nation's security and economic prosperity. These critical minerals are produced in limited quantities domestically. Clay County and the surrounding region are a key domestic source of these critical minerals.
"The new funding for the mining operations expansion at Trail Ridge South in Florida's Third Congressional District will allow us to remain leaders in producing high-quality manufacturing components. Not only is this expansion a boon for economic development in the region, but the minerals mined here are vital to our national security and domestic production capabilities," said Congresswoman Kat Cammack (FL-03). "The Chemours team is also working hard to ensure this process is environmentally sustainable, restoring land back to its productive mining use, which ensures a safe, healthy, clean Florida for generations to come."
Chemours' mining expansion on Trail Ridge South in Starke, Florida, will create 50-75 new positions, with at or above average wages for Bradford and Clay Counties. Construction will begin in July 2021, with an anticipated start-up by the fourth quarter, 2022.
State Representative Bobby Payne of District 19 said the economic impact was significant. "I am looking forward to the positive impact that will be seen in not only Clay and Bradford Counties, but in Baker and Duval as well."
About The Chemours Company
The Chemours Company (Chemours or the Company) (NYSE: CC) is a global leader in Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions providing its customers with solutions in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. We deliver customized solutions with a wide range of industrial and specialty chemicals products for markets, including coatings, plastics, refrigeration, and air conditioning, transportation, semiconductor and consumer electronics, general industrial, mining and oil and gas. Our flagship products include prominent brands such as Ti-Pure™, Opteon™, Freon™, Nafion™, Krytox™, Teflon™, and Viton™. In 2019, Chemours was named to Newsweek's list of America's Most Responsible Companies. The company has approximately 6,500 employees and 30 manufacturing sites serving approximately 3,300 customers in approximately 120 countries. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC.
This press release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which involve risks and uncertainties. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to a historical or current fact. The words "believe," "expect," "will," "anticipate," "plan," "estimate," "target," "project" and similar expressions, among others, generally identify "forward-looking statements," which speak only as of the date such statements were made. These forward-looking statements may address, among other things, the outcome or resolution of any pending or future environmental liabilities, the commencement, outcome or resolution of any regulatory inquiry, investigation or proceeding, the initiation, outcome or settlement of any litigation, changes in environmental regulations in the U.S. or other jurisdictions that affect demand for or adoption of our products, anticipated future operating and financial performance for our segments individually and our company as a whole, business plans, prospects, targets, goals and commitments, capital investments and projects and target capital expenditures, plans for dividends or share repurchases, sufficiency or longevity of intellectual property protection, cost reductions or savings targets, plans to increase profitability and growth, our ability to make acquisitions, integrate acquired businesses or assets into our operations, and achieve anticipated synergies or cost savings, all of which are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements are based on certain assumptions and expectations of future events that may not be accurate or realized. These statements are not guarantees of future performance. Forward-looking statements also involve risks and uncertainties that are beyond Chemours' control. In addition, the current COVID-19 pandemic has significantly impacted the national and global economy and commodity and financial markets, which has had and we expect will continue to have a negative impact on our financial results. The full extent and impact of the pandemic is unknown and to date has included extreme volatility in financial and commodity markets, a significant slowdown in economic activity, and increased predictions of a global recession. The public and private sector response has led to significant restrictions on travel, temporary business closures, quarantines, stock market volatility, and a general reduction in consumer and commercial activity globally. Matters outside our control have affected our business and operations and may or may continue to limit travel of employees to our business units domestically and internationally, adversely affect the health and welfare of our personnel, significantly reduce the demand for our products, hinder our ability to provide goods and services to customers, cause disruptions in our supply chains, adversely affect our business partners or cause other unpredictable events. Additionally, there may be other risks and uncertainties that Chemours is unable to identify at this time or that Chemours does not currently expect to have a material impact on its business. Factors that could cause or contribute to these differences include the risks, uncertainties and other factors discussed in our filings with the U.S. Securities and Exchange Commission, including in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 and in our Annual Report on Form 10-K for the year ended December 31, 2020. Chemours assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law.
VP, Corporate Development and Investor Relations
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SOURCE The Chemours Company