What is Asphaltite?
- Asphaltite (also called Gilsonite) is used in more than 160 products, primarily dark-colored printing inks and paints, oil well drilling muds and cements, asphalt modifiers, foundry sand additives, and a wide variety of chemical products.
- Asphaltite is mined much like any other mineral and sold essentially in its native state.
- Asphaltite for use in asphalt is currently sold all over the world as an asphalt modifier in the form of a dry bulk solid granular powder.
- Just a few countries are known to produce asphaltite, including the US (Utah), and more recently Colombia and Iran.
- AM’s target market is asphaltite-modified asphalt producers. Such asphalt provides:
- more stability
- less deformation
- lower sensitivity to temperature
- resistance to water stripping
- increased load-bearing capacity.
- Asphaltite currently sells for around US$400 per ton, 10 times more than coal.