First layer Pure Laterite is an excellent source for nutrients.
The key is, it should be placed under the gravel. I did this back in May 2008 when I first started the tank. Even to this day, if I look under the tank, up at the glass, there is still plenty laterite still under the gravel. The layer will provide plenty required nutrients for the live plants' roots.
I am very much an anti-chemical person. But at first, when I started in May 2008, I used laterite and plant tablets - well after about a month, I stopped using the tablets, and the plants did quite well just with the laterite.
So yes, absolutely apply this to the tank.