DU PONT TO PURCHASE LAND IN CHARLTON COUNTY, GA.
DU PONT TO PURCHASE LAND IN CHARLTON COUNTY, GA. WILMINGTON, Del., March 11 /PRNewswire/ -- Du Pont (NYSE: DD) has
completed negotiations with the Union Camp Corporation (NYSE: UCC) to purchase 15,400 acres in Charlton County, Ga., for the potential mining of mineral sands.
"Purchasing this property will allow Du Pont to conduct studies to determine if environmentally safe extraction of the minerals contained on the property is possible," said Gerard J. Donnelly, director for ores, minerals, and ore products in Du Pont Chemicals. "At this time, Du Pont has no specific plans for development of this property." The minerals include ilmenite ore, which is used by Du Pont in the production of titanium dioxide, a white pigment found in such products as paint, paper, and plastics. Additional minerals are marketed by Du Pont for use in the ceramic, refractory, and foundry industries. The acreage is an extension of a 7,200-acre site in northeastern Florida. Du Pont and the Union Camp Corporation also have negotiated a long- term lease that will allow Union Camp to continue management of the property for current uses, including timber production and harvesting. -0- 3/11/92 /CONTACT: Sally E. Boyer of Du Pont, 302-774-0542/ (DD CCC) CO: Du Pont; Union Camp Corporation ST: Georgia, Florida, Delaware IN: CHM MNG SU: RLE
MK -- PH024 -- 7420 03/11/92 15:55 EST
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|Date:||Mar 11, 1992|
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