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.
For more information, we invite you to
visit chemours.com or follow us on
Twitter @Chemours or LinkedIn.
Forward-Looking Statements
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.
CONTACT:
NEWS MEDIA
Lisa
Randall
Communications
Manager
+1.910.678.1942
media@chemours.com
INVESTORS
Jonathan Lock
VP, Corporate
Development and Investor
Relations
+1.302.773.2263
investors@chemours.com
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SOURCE The Chemours Company