U.S. SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C.  20549

                                   FORM 10-QSB

(Mark  One)

[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE
     ACT  OF  1934

For the quarterly period ended  March 31, 2001
                                --------------

[ ]  TRANSITION  REPORT  PURSUANT  TO  SECTION  13  OR  15(D)  OF THE SECURITIES
     EXCHANGE  ACT  OF  1934

For the transition period from ___________________ to ___________________

Commission  File  Number:     0-27295
                              -------


                           PLANET EARTH RECYCLING INC.
--------------------------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

                 NEVADA                            98-0208988
                 ------                           -------------
     (State or other jurisdiction  of           (I.R.S.  Employer
     incorporation or organization)            Identification  No.)

                                435 MARTIN STREET
                                BLAINE, WA  98230
                     (Address of principal executive offices)

                                 (360) 332-1350
                 (Issuer's telephone number, including area code)

     Check whether the issuer (1) filed all reports to be filed by Section 13 or
15(d)  of the Exchange Act during the past 12 months (or for such shorter period
that the Registrant was required to file such reports), and (2) has been subject
to  such  filing  requirements  for  the  past  90  days.  Yes [X]    No  [ ]

     State  the  number of shares outstanding of each of the issuer's classes of
common  equity as of the latest practicable date: As of May 11, 2001, 20,315,000
shares  of  common  stock,  par  value  $0.001  were  issued  and  outstanding.

Transitional Small Business Disclosure Format (Check One):  Yes [ ]   No [X]


                                      - 1 -
<PAGE>
                          PLANET EARTH RECYCLING INC.
                       (formerly Adventure Minerals Inc.)

                                TABLE OF CONTENTS

                                                                            Page
                                                                            ----

PART I - FINANCIAL INFORMATION . . . . . . . . . . . . . . . . . . . . . . .   3

   Item  1.  Financial  Statements . . . . . . . . . . . . . . . . . . . . .   3

           Balance Sheets as at March 31, 2001 and June 30, 2000 (unaudited)   3

           Income Statements for the nine months ended March 31, 2001
             and seven months ended June 30, 2000 (unaudited). . . . . . . .   4

           Income Statement for the quarter ended
             March 31, 2001 (unaudited). . . . . . . . . . . . . . . . . . .   5

           Statements of Cash Flows for the nine months ended March 31, 2001
             and seven months ended June 30, 2000 (unaudited). . . . . . . .   6

           Notes to the Financial Statements (unaudited) . . . . . . . . . .   7

   Item 2. Management's Discussion and Analysis or Plan of Operation . . . .  11

PART II - OTHER INFORMATION. . . . . . . . . . . . . . . . . . . . . . . . .  16

   Item 2. Changes in Securities and Use of Proceeds . . . . . . . . . . . .  16

   Item 4. Submission of Matters to a Vote of Security Holders . . . . . . .  17

   Item 6. Exhibits and Reports on Form 8-K. . . . . . . . . . . . . . . . .  17

SIGNATURES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  18


                                      - 2 -
<PAGE>
<TABLE>
<CAPTION>
                          PLANET EARTH RECYCLING INC.
                       (formerly Adventure Minerals Inc.)


PART  1.  -  FINANCIAL  STATEMENTS
----------------------------------


                          CONSOLIDATED  BALANCE  SHEETS
               as at MARCH 31, 2001 and JUNE 30, 2000 (UNAUDITED)


ASSETS                                      MARCH 31, 2001   JUNE 30, 2000
------                                     ----------------  --------------
                                             U.S. Dollars     U.S. Dollars
<S>                                        <C>               <C>
CURRENT ASSETS

     Cash in Bank                          $     1,490,376   $    1,877,144
     Accounts Receivable - Trade                   660,639          488,830
     Accounts Receivable - Other                 1,003,142           25,757
     Contract Receivable (Note 8c)              11,875,000                0
     Prepaid expenses                               18,547           71,741
                                           ----------------  --------------
                                           $    15,047,704   $    2,463,472

INVESTMENT                                         126,562                0
CAPITAL ASSETS (Notes 2 (d) and 3)                 151,967           20,881

LICENSE (Note 2 (e) and 8 (b))                     900,000          975,000

PROJECT DEPOSIT                                     17,170                -
MINERAL PROPERTY                                         -            1,681
EXPLORATION ADVANCE
                                                         -            8,299
                                           ----------------  --------------
TOTAL ASSETS                               $    16,243,403   $    3,469,333
                                           ================  ==============

LIABILITIES & SHAREHOLDERS' EQUITY
----------------------------------
LIABILITIES
     Accounts Payable (Note 9)             $       440,555   $      149,677
     Other Payable - Current                        18,398                0
     Deferred Revenue (Notes 2 (c) and 4)       10,038,462        1,392,573
     Lease Payable                                 108,280                0
     Note Payable (Note 5)                       1,000,000        1,000,000
                                           ----------------  --------------
                                                11,605,695        2,542,250
                                           ----------------  --------------

SHAREHOLDERS' EQUITY
--------------------
CAPITAL STOCK (Note 1 and 6)                         2,033            2,034
ADDITIONAL CONTRIBUTED CAPITAL                      52,217           52,217
RETAINED EARNINGS                                4,786,627          872,832
FOREIGN CURRENCY ADJUSTMENTS                      (203,169)               0
                                           ----------------  --------------
                                                 4,637,708          927,083
                                           ----------------  --------------
                                           $    16,243,403   $    3,469,333
                                           ================  ==============
</TABLE>
                 SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS


                                      - 3 -
<PAGE>
<TABLE>
<CAPTION>
                             PLANET EARTH RECYCLING INC.
                         (formerly  Adventure  Minerals  Inc.)

            CONSOLIDATED  STATEMENTS  OF  INCOME  AND  RETAINED  EARNINGS
 For the nine months ended MARCH 31, 2001 and seven months ended JUNE 30, 2000 (UNAUDITED)


                                                              Nine Months         Year
                                                                 Ended           Ended
                                                               MAR 31, 01      JUNE 30, 00
                                                             --------------  --------------
                                                              U.S. Dollars    U.S. Dollars
<S>                                                          <C>             <C>
REVENUE                                                      $   6,266,393   $   1,095,814
                                                             --------------  --------------
EXPENSES
     Advertising and promotion                                       2,156           2,881
     Automotive expenses                                             2,859             350
     Depreciation and amortization                                  79,900          25,532
     Donation                                                       12,898           5,103
     (Gain) Loss $exchange                                         (58,381)         39,267
     Interest Expense                                              119,160          18,027
     Consulting fees                                             1,195,588          33,888
     Office and general                                            379,182          16,583
     Professional fees                                             146,404          31,608
     Rent                                                          137,802          17,323
     Telephone                                                      48,415           1,565
     Travel                                                         40,885           3,036
     Utilities                                                      13,032               -
     Wages and benefits                                            297,839          25,967
     Write-off of Exploration Advance                                8,299               -
     Write-off of Mineral Property                                   1,681               -
                                                             --------------  --------------
                                                                 2,427,719         221,130
                                                             --------------  --------------
INCOME BEFORE INTEREST INCOME                                    3,838,674         874,684
INTEREST INCOME                                                     75,121           4,606
                                                             --------------  --------------
NET INCOME FROM OPERATIONS                                   $   3,913,795   $     879,290
DEFICIT FROM MERGER                                                      -          (6,458)
RETAINED EARNINGS, BEGINNING OF PERIOD                             872,832               -
                                                             --------------  --------------
RETAINED EARNINGS, END OF PERIOD                             $   4,786,627   $     872,832
                                                             --------------  --------------
Adjusted Earnings per Share - 20,315,000 shares outstanding  $        0.19   $        0.04
</TABLE>

                 SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS


                                      - 4 -
<PAGE>
<TABLE>
<CAPTION>
                          PLANET EARTH RECYCLING INC.
                       (formerly Adventure Minerals Inc.)

                        CONSOLIDATED STATEMENT OF INCOME
                For the quarter ended MARCH 31, 2001 (UNAUDITED)


                                                           Three Months Ended
                                                               MAR 31, 01
                                                             --------------
                                                              U.S. Dollars
<S>                                                          <C>
REVENUE                                                      $    2,115,017
                                                             --------------
EXPENSES
     Advertising and promotion                                        1,253
     Automotive expenses                                                361
     Depreciation and amortization                                   27,474
     Donation                                                           317
     (Gain) Loss $exchange                                            6,801
     Interest expense                                                83,872
     Management consultants                                         391,802
     Office and general                                              53,584
     Professional fees                                               35,395
     Rent                                                            47,993
     Telephone                                                       18,524
     Travel                                                          13,145
     Utilities                                                        4,471
     Wages and benefits                                             106,007
                                                             --------------
                                                                    790,999
                                                             --------------
INCOME BEFORE INTEREST INCOME                                     1,324,018
INTEREST INCOME                                                      39,799
                                                             --------------

NET INCOME FROM OPERATIONS                                   $    1,363,817

Adjusted Earnings per Share - 20,315,000 shares outstanding  $         0.07
</TABLE>

                 SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS


                                      - 5 -
<PAGE>
<TABLE>
<CAPTION>
                              PLANET EARTH RECYCLING INC.
                          (formerly  Adventure  Minerals  Inc.)

                           CONSOLIDATED STATEMENTS OF CASH FLOW
    For the nine months ended MARCH 31, 2001 and the seven months ended JUNE 30, 2000
                                       (UNAUDITED)

                                                             MAR 31, 01     JUNE 30, 00
                                                           --------------  --------------
                                                            U.S. Dollars    U.S. Dollars
<S>                                                        <C>             <C>
CASH RESOURCES PROVIDED BY (USED IN)
OPERATING ACTIVITES
     Net Income                                            $   3,913,795   $     879,290
     Foreign Currency Adjustments                               (203,168)
Items not involving funds
     Amortization                                                 79,900          25,532
     Deferred revenue realized                                (1,392,573)       (596,817)
Cash generated from (used for) operating working capital
     Accounts receivable - trade                                (171,808)       (488,830)
     Accounts receivable - other                                (977,384)        (25,757)
     Contract Receivable                                     (11,875,000)              0
     Prepaid expenses                                             53,192         (71,741)
     Accounts payable and accrued liabilities                    309,275         147,325
     Deferred revenue                                         10,038,462               0
                                                           --------------  --------------
                                                                (225,309)       (130,998)
                                                           --------------  --------------
CASH RESOURCES PROVIDED BY (USED IN)
FINANCING ACTIVITIES
     Share capital                                                    (1)              1
     Lease Payable                                               108,280
     Note Payable                                                      -       1,000,000
     Funds received from contract advance                              -       1,989,390
                                                           --------------  --------------
                                                                 108,279       2,989,391
                                                           --------------  --------------
CASH RESOURCES PROVIDED BY (USED IN)
INVESTING ACTIVITIES
     Acquisition of license                                            -      (1,000,000)
     Investment                                                 (126,562)              0
     Purchase of capital assets                                 (135,986)        (22,094)
     Project deposit                                             (17,170)              -
     Write-off of Mineral Property                                 1,681               -
     Write-off of Exploration Advance                              8,299               -
                                                           --------------  --------------
                                                                (269,738)     (1,022,094)
                                                           --------------  --------------

INCREASE (DECREASE) IN CASH                                     (386,768)      1,836,299
CASH AND TERM DEPOSITS, beginning of year                      1,877,144          40,845
                                                           --------------  --------------
CASH AND TERM DEPOSITS, end of year                        $   1,490,376   $   1,877,144
                                                           ==============  ==============
</TABLE>

                 SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS


                                      - 6 -
<PAGE>
                          PLANET EARTH RECYCLING INC.
                       (formerly Adventure Minerals Inc.)

                          NOTES TO FINANCIAL STATEMENTS
                For the 9 months ended MARCH 31, 2001 (UNAUDITED)

1.   NATURE  OF  BUSINESS  AND  STATUS  OF  ACTIVITIES

     Planet  Earth  Recycling  Inc.  (formerly  Adventure  Minerals  Inc.)  (the
     "Company")  was  incorporated  in  Nevada,  USA  on  February 17, 1999. The
     Company  is  public  and  has  been  trading on the NASD's Over-the-Counter
     Bulletin  Board  since  June  2000.  On  September  15,  2000, a merger was
     completed  with  a  private  company  (known  at  the  time as Planet Earth
     Recycling  Inc.), in which shares were exchanged one-for-one. The Company's
     name  was  formally  changed  to Planet Earth Recycling Inc. on November 2,
     2000  following  approval  by  the  Company's  Shareholders  at  a  Special
     Shareholders' Meeting held in Seattle, Washington. All future business will
     be conducted under the name Planet Earth Recycling Inc. The Company's stock
     trades  on  the  NASD's  Over-the-Counter  Bulletin  Board under the symbol
     "PERI".

     Planet  Earth  Recycling Inc. is an integrated, multi-faceted recycling and
     waste  management  business  ready  to  address a broad range of recyclable
     materials,  including  glass,  plastic,  paper,  cardboard,  metals  and
     particularly organic wastes. The Company holds contractual rights to build,
     support,  and  supply  Thermo  Master(TM)  Plants  which  employs  a patent
     protected  process  to convert organic waste materials to valuable feed and
     fertilizer  products.

     The  Company  has  investment  in  one  subsidiary,  Planet Earth Operating
     Services  Inc.,  which in turn has investments in eight subsidiaries, which
     are  consolidated  and  summarized  as  follows:

<TABLE>
<CAPTION>
COMPANY                                                  NATURE OF BUSINESS
-------------------------------------------------------  -----------------------------
<S>                                                      <C>
Planet Earth Operating Services Inc. (100% owned)        Operating Company
(a) Earth Alliance Systems Inc. (100% owned)             Total Recycling
(b) Planet Earth Bio Conversion Inc. (100% owned)        Licensor of Technology
(c) Planet Earth Design Build Inc. (100% owned)          Engineering and Construction
(d) Planet Earth Management Inc. (100% owned)            Commissioning and Operating
(e) Environmental Pulp and Paper
    Sludges Inc. (50% owned)                             Licensor of sludge technology
(f) Environmental Bio Solids Solutions Inc. (50% owned)  Licensor of sludge technology
(g) Environmental Agri Bio Solids Inc. (50% owned)       Licensor of sludge technology
(h) Environmental Industrial Sludges Inc. (50% owned)    Licensor of sludge technology
</TABLE>

2.   SIGNIFICANT  ACCOUNTING  POLICIES

<TABLE>
<CAPTION>
<C>                             <S>
(a)   PRINCIPLES OF ACCOUNTING  These consolidated financial statements have been
                                prepared in accordance with  U.S. generally accepted
                                accounting principles applicable to a going concern,
                                which assumes that the Company will continue
                                operation for a reasonable period of time and will be
                                able to realize its assets and discharge its liabilities and
                                commitments in the normal course of operations.


                                      - 7 -
<PAGE>
                          PLANET EARTH RECYCLING INC.
                       (formerly Adventure Minerals Inc.)

                          NOTES TO FINANCIAL STATEMENTS
                 For the 9 months ended MARCH 31, 2001 (UNAUDITED)

(b)   BASIS OF CONSOLIDATION    These financial statements have been prepared using the
                                purchase method of consolidation.  The assets and
                                liabilities of acquired companies are initially recorded at
                                their cost.  The results of operations of the acquired
                                companies are included from the dates of acquisition.  All
                                significant intercompany transactions and balances have
                                been eliminated on consolidation.

(c)   REVENUE RECOGNITION       Revenue is recognized when services are performed.

(d)   CAPITAL ASSETS            Plant and equipment are recorded at cost.  Amortization is
                                recorded on active and idle assets, computed using the 20%
                                straight-line method to amortize the cost of the assets over
                                their estimated useful lives.

(e)   LICENSES                  License rights are recorded at cost and are amortized on a
                                straight-line basis over the license period (10 years) which
                                is the Company's estimated period of benefit for these
                                costs.
</TABLE>

3.   CAPITAL  ASSETS

                              Cost    Acc. Amort.   Net Book Value
                            --------  ------------  ---------------
          Office Equipment  $ 26,780  $      4,279  $        22,531
          Equipment          130,523         1,087          129,436
                            --------  ------------  ---------------
          Total Assets      $157,303  $      5,336  $       151,967
                            ========  ============  ===============

     The  estimated  useful  life  of  the  office equipment is five years.

4.   DEFERRED  REVENUE

The  Company  has  entered into an agreement to retrofit a recycling facility in
Ontario,  Canada  and provide operating and support services to the facility for
the  amount  of  $11,875,000  until  April  1,  2002.


5.   NOTE  PAYABLE

     The  Company,  in  connection with its acquisition of the license agreement
     (Note 8 (b)) is indebted by way of a $1,000,000 note payable, due on demand
     at  a  seven  percent  (7%)  rate of interest payable both before and after
     maturity.  Interest  of  $70,575  has been accrued but only $20,575 remains
     unpaid  at  March  31,  2001.


                                      - 8 -
<PAGE>
                          PLANET EARTH RECYCLING INC.
                       (formerly Adventure Minerals Inc.)

                          NOTES TO FINANCIAL STATEMENTS
                For the 9 months ended MARCH 31, 2001 (UNAUDITED)


6.   SHARE  CAPITAL

     The  Company  has  an authorized share capital of 160,000,000 common shares
     with a par value of $0.001 and 40,000,000 preferred shares with a par value
     of  $0.001.  Prior to the merger, there were 10,165,000 shares outstanding.
     On  September 15, 2000, in connection with a merger between the Company and
     Planet  Earth  Recycling  Inc.,  10,000,000  shares  of  the  Company  were
     exchanged  for  all  the  issued  and  outstanding  shares  of Planet Earth
     Recycling  Inc.  (a  private  company) on a one-for-one basis. Prior to the
     merger,  150,000  shares were issued by the Company for the settlement of a
     certain  obligation. The total number of outstanding shares as of March 31,
     2000  is  20,315,000.

                    Price     Number of Shares  Total Outstanding
                 -----------  ----------------  -----------------

Cash Issue       $      .005         1,200,000          1,200,000
Cash Issue       $       .05           800,000          2,000,000
Cash Issue       $       .25            33,000          2,033,000
5 for 1 Split                        8,132,000         10,165,000
Debt Settlement  $     0.001           150,000         10,315,000
Merger                              10,000,000         20,315,000


7.   COMMITMENTS

     The  Company  rents  its  head  office  and  administrative  offices  under
     operating  leases. Rental payments during the period amounted to a total of
     $17,323.  Aggregate  minimum  rental  payments are $672,341 and approximate
     future  rent  payments  for  the  next  five years relative to signed lease
     agreements  are  as  follows:

                                Approximate
                    Year      Future  Payment
                    ----      ---------------
                    2001            $182,805
                    2002            $167,841
                    2003            $167,841
                    2004            $153,854


                                      - 9 -
<PAGE>
                          PLANET EARTH RECYCLING INC.
                       (formerly Adventure Minerals Inc.)

                          NOTES TO FINANCIAL STATEMENTS
                For the 9 months ended MARCH 31, 2001 (UNAUDITED)

8.   SIGNIFICANT  AGREEMENTS

The Company has entered into several significant agreements during the operating
period  as  follows:

     a)   Master  Service  Agreement. The Company has a Master Service Agreement
          with  a  corporation  that  allows  it to have the right to construct,
          commission,  maintain,  operate,  supply and broker the end product of
          all  Thermo  Master(TM)  Plants  built  for any licensee in the world.
          These  services  are  provided  at  a  cost  plus  15%  rate.

     b)   License  Agreement.  The  Company  entered into a License Agreement on
          March  28, 2000 to utilize the Thermo Master(TM) technology in Canada,
          Washington,  Oregon, Nevada, Idaho, California and Hawaii. The Company
          has  an  exclusive  right to build a Thermo Master(TM) Plant in any of
          its  territories.  The  License is $1,000,000 and was satisfied with a
          Note  payable  (Note  5).  Amortization  of  $75,000 has been recorded
          during  the  period (Note 2 (e)). The License Agreement also calls for
          an  additional payment of $1,000,000 for every plant constructed by or
          on  behalf  of  the  Licensee.

     c)   Agreement.  On  January 29, 2001 the company entered into an agreement
          to  retrofit  a  recycling  facility  in  Ontario,  Canada and provide
          operating  and  support  services  to  the facility. The contract runs
          through  April  1,  2002,  and  has  a  value  of  $11,875,000.

9.   RELATED  PARTY  TRANSACTIONS

Included  in  accounts  payable  as  at  March 31, 2001 was $45,857 owing to the
Company's  President.


                                     - 10 -
<PAGE>
                          PLANET EARTH RECYCLING INC.
                       (formerly Adventure Minerals Inc.)

ITEM  2.  MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OR  PLAN  OF  OPERATION
--------------------------------------------------------------------------

This  Form  10-QSB  contains forward-looking statements. The words "anticipate",
"believe",  "expect",  "plan",  "intend", "estimate", "project", "could", "may",
"foresee",  and  similar  expressions  identify  forward-looking statements that
involve  risks  and  uncertainties.  You  should  not  place  undue  reliance on
forward-looking  statements  in  this  Form  10-QSB  because  of  their inherent
uncertainty. The following discussion and analysis should be read in conjunction
with  the Financial Statements and Notes thereto and other financial information
included  in  this  Form  10-QSB  that  involve risks and uncertainties.  Actual
results  could  differ  materially  from  the  results  discussed  in  the
forward-looking  statements.

                                    OVERVIEW

The  Company  is  an  integrated,  multi-faceted  recycling and waste management
business,  ready  to  address  a  broad range of recyclable materials, including
glass,  plastic, paper, cardboard, metals, and particularly organic wastes.  The
Company,  through  its  subsidiaries,  is  focused  on  building, supporting and
supplying  Thermo  Master(TM) Plants, which employ a patent protected process to
convert  organic  waste  materials to valuable feed and fertilizer products. The
Company  holds  an  exclusive  master  license  to  own  and  sub-license Thermo
Master(TM)  Plants in Canada, California, Washington, Oregon, Nevada, Hawaii and
Iowa and is conducting feasibility studies in those areas to determine where the
Thermo Master(TM) Plants should be sited. The Company believes that its presence
in  a community provides the following benefits: local employment; effective and
comprehensive  waste  recycling;  and  environmental  management.

The  Company  offers  a full range of waste recycling and management services to
its  clients.  The  Company is structured as an integrated business with several
subsidiaries  dedicated  to delivering distinct aspects of the Company's overall
business  model.  The  following  diagram  shows  how  the Company is organized:

                          PLANET EARTH RECYCLING, INC.
                          ----------------------------
                                        |
                      PLANET EARTH OPERATING SERVICES INC.
                      ------------------------------------
                                        |
                              1.   EARTH  ALLIANCE  SYSTEMS  INC.  (Waste
                                   ------------------------------
                                   acquisition  -  Satellite  centers  -  Tote
                                   services  Transfer  stations - De-packaging -
                                   Commodity  broker  glass,  metals,  plastics,
                                   paper,  organics  -  Waste  audits)
                              2.   PLANET  EARTH DESIGN BUILD INC.(Engineering -
                                   ------------------------------
                                   Permitting  -  Construction  services  -
                                   Equipment  procurement  -  Turnkey  recycling
                                   systems  - Transfer stations - New technology
                                   development)
                              3.   PLANET  EARTH  BIO  CONVERSION INC. (Licenses
                                   -----------------------------------
                                   for  Thermo Master(TM) Plants - Exclusive and
                                   non-exclusive  territory)
                              4.   PLANET EARTH MANAGEMENT INC. (Commissioning -
                                   ----------------------------
                                   Training  -  Operating  services  -  Support
                                   services  -  Complete  recycling  systems)


                                     - 11 -
<PAGE>
                          PLANET EARTH RECYCLING INC.
                       (formerly Adventure Minerals Inc.)

                              5.   ENVIRONMENTAL  PULP  AND  PAPER  SLUDGES INC.
                                   ---------------------------------------------
                                   (Licensor  of  Pulp  and  Paper  sludge
                                   technology)
                              6.   ENVIRONMENTAL  BIO  SOLIDS  SOLUTIONS  INC.
                                   -------------------------------------------
                                   (Licensor  of  Bio  Solid  sludge technology)
                              7.   ENVIRONMENTAL  AGRI  BIO SOLIDS INC.(Licensor
                                   ------------------------------------
                                   of  Agri  Bio  Solid  sludge  technology)
                              8.   ENVIRONMENTAL  INDUSTRIAL  SLUDGES INC.
                                   ---------------------------------------
                                   (Licensor  of  Industrial  sludge technology)

The  parent  company,  Planet  Earth Recycling Inc., is primarily focused on the
acquisition  and  management  of  corporate  financing.  Planet  Earth Operating
Services  Inc.  ("PEOSI")  delivers  all  aspects of the operational side of the
business  through its several subsidiary companies.  The Company has assembled a
team  of  core  consultants  with  over  300 years of combined experience in the
critical  sectors  of  its  business.

PEOSI  is  built  from  a  company  with  a  history of 45 years of successfully
providing  systems, equipment and services in the agricultural and environmental
industries. Its waste management and recycling team brings experience with every
major  waste  management  firm  known  in North America. Within the group of key
consultants  resides  knowledge  and  experience  in  engineering,  research and
development,  construction,  mechanical  operations,  public  relations  and
marketing,  waste  acquisition,  recycling  and  financing needed to conduct the
Company's  business.

Two  of the Company's subsidiary companies produce steady cash flow by supplying
construction  and  support  services  to  build,  operate  and  maintain  Thermo
Master(TM)  Plants,  Earth  Alliance Satellite Centers, transfer stations, water
treatment  facilities  and  other  such  physical  plants.  These  companies are
expected to provide services directly, but will more likely oversee the programs
and  services  that  are  delivered  at the local level by local sub-contractors
having  the  required  skills.

The  other  subsidiaries,  Earth  Alliance  Systems  Inc.  and  Planet Earth Bio
Conversion  Inc.  are  in a position to capitalize on the potential of waste and
recycling  markets  throughout the world.  These two companies are structured to
own  and  operate  waste  acquisition,  recycling,  organic waste conversion and
commodity  brokering  businesses  to  cover  the  full  gamut  of  recycling
opportunities  in  the  marketplace.  The  two  subsidiaries  will  hold  equity
positions  in  the  Company's growing family of plants and businesses as well as
create  and  capture  major  revenues  and  profits.

The  Company  is  also involved in commodity businesses, whether that be the end
product  from  Thermo Master(TM) Plants, such as feed or fertilizer products, or
the  recyclable  materials,  such  as  plastics,  paper, glass, metals and other
recoverable  materials.

All  subsidiary  companies  are  structured  to  operate profitably in their own
right.  The  subsidiaries  have  been  structured as distinct entities to ensure
that  the  Company's  management  can  track  each  subsidiary's  performance.


                                     - 12 -
<PAGE>
                          PLANET EARTH RECYCLING INC.
                       (formerly Adventure Minerals Inc.)

In  addition  to  the  wholly-owned subsidiary companies, Planet Earth Operating
Services  Inc.  owns  50%  of  four  other  subsidiary  companies formed to hold
Licenses  on  Thermophilic  sludge  technology,  and  to  perform  research  and
development  in  the  following  areas:

          1)     Industrial  sludges;
          2)     Agri  Bio  Solid  sludges;
          3)     Bio  Solid  sludges;  and
          4)     Pulp  and  Paper  sludges.

This  sludge  research is part of the Company's constant search and discovery of
new  and  innovative  recycling  technologies.

For  more information on the business of the Company, see the report on Form 8-K
dated  September  15,  2000 and filed under the name Adventure Minerals, Inc. on
September  29,  2000.


                              STATUS OF OPERATIONS

The  Company's  current  operations include the following activities from signed
contracts.

On  January  29,  2001,  PEOSI signed a $11,875,000 agreement, paid in full upon
signing  with  a  convertible  debenture.

Under  the  terms of the agreement, PEOSI will retrofit and operate Hamilton Bio
Conversion  Inc.,  a  1,200  ton per day Thermo Master(TM) Mark III plant, until
April  2002.  The  agreement  also  covers  a  full  spectrum  of  corporate
administrative  and  support  services  including  completion of fiscal year end
functions  such  as  audits,  annual  financial reporting and filing and related
legal  consultations  for  Thermo  Tech(TM).

PEOSI  has  a  20-year  Master(TM)  Service  Agreement.  The  Master(TM) Service
Agreement  provides  exclusive  rights to PEOSI to provide turnkey construction,
commissioning  and  training,  maintenance  services,  technical services, waste
supply  and  end  product  purchasing for all licensees of the Thermo Master(TM)
Mark  III  technology.  This contract will provide the expertise and know-how to
ensure  all  new licensees are delivered an operating Thermo Master(TM) Mark III
Plant.

During  the  quarter,  the  following  projects  were  initiated:

Planet Earth Design Build Inc. is currently preparing 12 feasibility studies for
new  projects,  to  assess  what  is  required  in each area. The results of the
feasibility  study  may  allow  for  new projects that may generate up to 12 new
sites  for  the  Company  to  implement  its  total  recycling  program.

On  May  1,  2001,  the  Company  acquired  a 400-ton per day permitted transfer
station  and  recycling facility in Toronto, Ontario for $1,900,000. The site is
just  under  eight  acres  of  property  with  69,000  sq.ft. of building space,
including  6,000  sq.ft  of offices and 63,000 sq.ft of plant space. The Company
plans  to  use  the  facility  for  recycling  depackaging,  satellite transfer,


                                     - 13 -
<PAGE>
                          PLANET EARTH RECYCLING INC.
                       (formerly Adventure Minerals Inc.)

research  and  development,  and demonstration of technologies. Negotiations are
finalized  and the Company closed the transaction on April 30, 2001. The Company
believes that the acquisition of the transfer station and recycling facility may
generate revenue for the Company from the following sources:  tipping fees; from
sale  of  condensed  organic wastes to the Hamilton, Ontario recycling facility;
resale  of  mainstream  recyclable  materials  including  tires,  paper,  glass,
plastic,  and  metals; and new product and technologies developed at the on-site
research  and  development  labs.

These  current  contracts enable the Company to provide its value-added services
to  its clients and ensure room for future expansion with new facilities and new
opportunities.


                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS

NINE  MONTHS  ENDED  MARCH  31, 2001 COMPARED TO THE SEVEN MONTHS ENDED JUNE 30,
2000.

This  information  has  been derived from unaudited interim financial statements
for  the  period  ended  March 31, 2001 and audited financial statements for the
seven-month  period  ended  June 30, 2000. Results of operations for any interim
period  are  not  necessarily indicative of results to be expected from the full
fiscal  year.

The  Company's  operations,  going  forward,  are  the  operations of the merged
private  company,  Planet  Earth  Recycling  Inc.,  as  this  is  the continuing
business.  For  comparison purposes this quarter, the period ended June 30, 2000
will  be  used.  As  no  useful operating figures exist for the same period last
year,  July  1,  1999  to  March  31, 2000, those figures will not be presented.

     Net  Income
     -----------

For  the  nine  months  ended  March  31,  2001,  the  Company had net income of
$3,913,795.  This  is  an  increase  of  $3,034,505 over the comparison period's
operations,  which  produced net income of $879,290. This increase in net income
is based on growing the operations of the Company. The Company expects growth to
continue  in the next quarters as the business continues to develop based on the
business  plan  of  the Company.  New revenue sources from the new Environmental
Conversion  Center  and  the  retrofit  &  operating  contract with Hamilton Bio
Conversion  will  further  the  Company's  growth.

     Operating  Revenue
     ------------------

Total  revenue  for  the  nine  months ended March 31, 2001 was $6,266,393.  The
Company  increased  revenue  by  $5,170,579  or 572% over total revenues for the
seven  months  ended  June  30,  2000,  which  was  $1,095,814.  The increase in
revenues  resulted  from  the  beginning  of a new contract with Thermo Tech(TM)
Technologies  Inc., retrofit and operation work with Hamilton Bio Conversion and
work on Richmond Bio Conversion. The Company has several other new projects with
expected  business  growth  in  each  subsidiary.


                                     - 14 -
<PAGE>
                          PLANET EARTH RECYCLING INC.
                       (formerly Adventure Minerals Inc.)

     Operating  Costs  and  Expenses
     -------------------------------

The  Company  had  an  increase  in  expenses of $2,206,589 during the period to
$2,427,719  as compared to the expenses for the seven months ended June 30, 2000
with  total  operating expenses of $221,130.  The increased expenses reflect the
growth  in  operations,  including  increases  in  the number of consultants and
employee's  to  implement  the  Company's business plan.  Other areas of expense
increases  included  professional  fees,  due  to  the increase in business, and
general  and  administration fees.  The Company has contracts that charge out at
cost  plus  15%  while  others are fixed fee contracts to recover the costs. The
Company  also wrote off the cost of the exploration advance and mineral property
as  it  turns  its  focus  to  its  new  business.

                         LIQUIDITY AND CAPITAL RESOURCES

The  Company  had  cash  of $1,490,376 and a working capital of $3,442,009 as of
March  31,  2001.  This  is compared to cash of $1,877,144 and a working capital
deficit  of $78,778 as at June 30, 2000.  The increase is a direct result of the
net  income  during  the  period  of  $3,913,795.

Management  believes  that current cash balances and cash flows from operations,
will be sufficient to meet present growth strategies and related working capital
and  capital  expenditure  requirements.  The  current  business  plan  proposes
significant  increases  in  spending  when  compared to historical expenditures.
Management  may  decide  to  raise  additional  capital  through the issuance of
additional  debt  or  equity  securities.

The  Company  plans  to utilize a combination of internally generated funds from
operations,  and  potential  debt  and  /  or  equity  financings  to  fund  its
longer-term  growth  over  a  period  of two to five years.  The availability of
future financings will depend on market conditions.  A portion of the funds will
be  needed  to  grow  the  business  through  acquisitions  of other businesses.

The  forecast  of  the  period  of  time  through  which the Company's financial
resources  will be adequate to support operations is a forward-looking statement
that  involves  risks  and  uncertainties.  The  actual funding requirements may
differ  materially  from this as a result of a number of factors including plans
to  acquire  other  businesses  and  rapidly  expand  its  operations.

                EFFECT OF FLUCTUATIONS IN FOREIGN EXCHANGE RATES

The  majority of the Company's current operations are located outside the United
States.  The  functional  currency  for  each  foreign  operation  is  the local
currency.  The  carrying  value  of the Company's investments outside the United
States  is  subject  to the risk of foreign currency fluctuations.  Any revenues
received  from the Company's international operations will be subject to foreign
exchange  risk.


                                     - 15 -
<PAGE>
                          PLANET EARTH RECYCLING INC.
                       (formerly Adventure Minerals Inc.)

                         PART II.     OTHER INFORMATION

ITEM  2.  CHANGES  IN  SECURITIES  AND  USE  OF  PROCEEDS
---------------------------------------------------------

Following  the approval by the shareholders of the amended and restated articles
of  incorporation  in  November  2000,  the  capital  stock of the Company is as
follows:

                            DESCRIPTION OF SECURITIES

The  following  is  a description of the material terms of the Company's capital
stock  following  the amendment and restatement of its articles of incorporation
in  November  2000.  This  description  does  not  purport to be complete and is
subject  to  and  qualified  in  its  entirety  by  the  Company's  articles  of
incorporation  and  bylaws  and  by  the  applicable  provisions  of Nevada law.

The  Company's authorized capital stock consists of 160,000,000 shares of common
stock, par value $0.001 per share, and 40,000,000 shares of preferred stock, par
value  $0.001  per  share.

COMMON  STOCK
-------------

Each  record  holder of common stock is entitled to one vote for each share held
on  all  matters  properly  submitted  to  the shareholders for their vote.  The
articles  of  incorporation  do not permit cumulative voting for the election of
directors, and shareholders do not have any preemptive rights to purchase shares
in  any  future  issuance  of  the  Company's  common  stock.

Because  the  holders  of  shares  of  the  Company's  common  stock do not have
cumulative  voting  rights,  the  holders  of  more  than 50% of the outstanding
shares,  voting for the election of directors, can elect all of the directors to
be  elected,  if  they  so  choose.  In such event, the holders of the remaining
shares  will  not  be  able  to  elect  any  of  the  Company's  directors.

The  holders  of  shares of common stock are entitled to dividends, out of funds
legally available therefor, when and as declared by the Board of Directors.  The
Board  of  Directors  has  never  declared  a  dividend  and does not anticipate
declaring a dividend in the future.  In the event of liquidation, dissolution or
winding  up  of the Company's affairs, holders are entitled to receive, ratably,
the  net  assets  of  the Company available to shareholders after payment of all
creditors.

Under  the  Company's articles of incorporation, only the Board of Directors has
the  power  to  call a special meeting of the shareholders, thereby limiting the
ability of shareholders to effect a change in control of the Company by changing
the  composition  of  its  Board.

All  of  the  issued and outstanding shares of common stock are duly authorized,
validly  issued,  fully paid, and non-assessable.  To the extent that additional
shares  of  the  Company's  common  stock  are issued, the relative interests of
existing  shareholders  may  be  diluted.


                                     - 16 -
<PAGE>
                          PLANET EARTH RECYCLING INC.
                       (formerly Adventure Minerals Inc.)

PREFERRED  STOCK
----------------

The  Board  of  Directors  may  determine, in whole or in part, the preferences,
limitations  and relative rights, within the limits set forth by the laws of the
state  of  Nevada, or any successor statute, of any class of its preferred stock
before  the  issuance  of  any shares of that class or one or more series within
that  class  before  the  issuance  of  any  shares  of  that  series.

This  is  an  anti-takeover  measure.  The  Board  of  Directors  has  exclusive
discretion  to  issue  preferred  shares with rights that may trump those of its
common  stock.  The  Board of Directors could use an issuance of preferred stock
with  dilutive  or  voting  preferences  to delay, defer or prevent common stock
shareholders  from  initiating  a change in control of the Company or reduce the
rights  of  common  stockholders  to the net assets upon dissolution.  Preferred
stock  issuance may also discourage takeover attempts that may offer premiums to
holders  of  the  Company's  common  stock.

ITEM  4.  SUBMISSION  OF  MATTERS  TO  A  VOTE  OF  SECURITY  HOLDERS
---------------------------------------------------------------------

On  November  2, 2001, the Company held a Special Meeting of its shareholders to
vote on a proposal to amend and restate the Company's articles of incorporation,
including  a name change from Adventure Minerals, Inc. to Planet Earth Recycling
Inc.  Of  the 20,315,000 shares of common stock entitled to vote at the meeting,
20,315,000  shares  voted  for  and  no  shares  voted  against  the  proposal.

ITEM  6.  EXHIBITS  AND  REPORTS  ON  FORM  8-K
-----------------------------------------------

(a)  EXHIBITS.

EXHIBIT  NO.   DESCRIPTION
------------   -----------

3.1            Amended  and  Restated  Articles  of  Incorporation

3.2            Amended  and  Restated  Bylaws

10.1           Agreement dated January 29, 2001 between Thermo Tech Technologies
               Inc. and Planet  Earth  Operating  Services Inc. re Hamilton
               Thermo Master(TM) Plant


(b)  REPORTS  ON  FORM  8-K.

None


                                     - 17 -
<PAGE>
                          PLANET EARTH RECYCLING INC.
                       (formerly Adventure Minerals Inc.)

                                   SIGNATURES

In  accordance  with the requirements of the Exchange Act, the registrant caused
this  report  to  be  signed  on  its  behalf by the undersigned, thereunto duly
authorized.

PLANET  EARTH  RECYCLING,  INC.



  /s/  Rowland  Wallenius                            May 14, 2001
----------------------------                        --------------
Rowland Wallenius, President                             Date


                                     - 18 -
<PAGE>
                                  EXHIBIT INDEX

EXHIBIT NO.    DESCRIPTION
-----------    -----------

3.1            Amended  and  Restated  Articles  of  Incorporation

3.2            Amended  and  Restated  Bylaws

10.1           Agreement dated January 29, 2001 between Thermo Tech Technologies
               Inc.  and Planet Earth Operating Services Inc. re Hamilton Thermo
               Master(TM)  Plant


<PAGE>