American Resources Corporation Joins the Global Rare Earth Industry Association
Founded in 2019, the global Rare Earth Industry Association (REIA) is an international non-profit organization representing the global REE industry.
FISHERS, IN / ACCESSWIRE / April 27, 2022 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially responsible supplier of rare earth and critical elements, carbon and advanced carbon materials to the new infrastructure and electrification marketplace, today announced that it has joined the global Rare Earth Industry Association (REIA), an international non-profit organization representing the global rare earth element (REE) industry.
Mark LaVerghetta, Head of Corporate Finance of American Resources commented, "We are excited to join a well-established and growing organization that is focused on the support and growth of the global rare earth industry. Given our critical and rare earth element purification facility will be operating in the first half of 2022, we believe we can offer the association valuable insights into the innovation and solutions to bolster a circular economy for rare earths and also believe they can offer us broader visibility throughout the industry and the investment community. We look forward to collaborating with the members of the REIA and helping to solve this absolutely imperative growing need of supplying critical and rare earth elements to a growing electrified economy in the most environmentally safe and sustainable ways."
Dr Badrinath Veluri, President of REIA, commented: "We are very excited that American Resources Corporation and its subsidiary American Rare Earth LLC have chosen to join REIA. Their approach to the rare earth and critical element space is a much needed aspect within the industry and we believe we can help them increase their visibility and collaboration in the industry."
American Rare Earth LLC is one of the largest developers of critical and rare earth elements ("REE") in the United States.American Rare Earth has developed real solutions in conjunction with its corporate partners to bring innovative technologies to the domestic commercial market, and to bring an economically viable and environmentally safe process chain onshore for the refining and purification of battery and magnet material. Through its innovation and partnerships, American Rare Earth is focused on redefining how critical and REEs are both sourced and processed throughout the world while focusing on the circular economy of recycling existing permanent magnets and battery metals using its patented chromatography technology; a proven and commercial process and technology; and through capturing REE from carbon-based waste streams and byproducts. Through its initiatives, American Rare Earth will be the first to produce isolated and purified (99.5%) magnet and battery metals through recycling end-of-life products using the most environmentally safe methods ever developed. Their methods enable American Rare Earth to recover all of the inherent high-value material at very high yields and allow them to help address U.S. supply chain and sustainability challenges.
American Resources continues to focus on running efficient streamlined operations in being a new-aged supplier of raw materials to the infrastructure and electrification marketplace in the most sustainable of ways, while also helping the world achieve its goals of carbon neutrality. By operating with low or no legacy costs and having one of the largest and most innovative growth pipelines in the industry, American Resources Corporation works to maximize value for its investors by positioning its large asset base to best fit a new-aged economy, while being able to scale its operations to meet the growth of the markets it serves.
About the global Rare Earth Industry Association (REIA)
The global Rare Earth Industry Association (REIA) is a global association aiming to enable sustainable, responsible, collaborative and transparent Rare Earth Value chains, from mining to recycling. REIA provides a platform for stakeholders to network; conducts research and develops strategies and supply chain standards. In the project, REIA will provide knowledge on the supply chain stakeholders and processes. Furthermore, it will develop its own standard and engage stakeholders in the demonstration.
About American Resources Corporation
American Resources Corporation is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking, critical and rare earth minerals for the electrification market, and reprocessed metal to be recycled. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon and rare earth mineral deposits are concentrated.
American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure and electrification markets while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit americanresourcescorp.com or connect with the Company on Facebook, Twitter, and LinkedIn.