American Resources provides update on economic viability of REE production

American Resources (AREC)’ ReElement Technologies has demonstrated the techno-economic viability of producing rare earth elements from the Company’s controlled carbon mine waste streams. Updated analyses of the carbon waste-based deposits at its Wyoming County Coal project, located in southwest West Virginia, consistently show mixed rare earth oxide concentrations at or above 500 ppm. Additionally, ReElement Technologies has proven its capability to separate MREO into high-purity rare earth oxides utilizing its proprietary and patented refining technology combined with localized preprocessing. American Resources Corporation’s internal surveyors estimate over 128 million tons of previously extracted waste material available for targeting, with the initial primary resource focused on the Company’s West Virginia property, which is estimated to contain approximately 8 million tons. Mark Jensen, CEO of American Resources Corporation, commented, “There has been significant discussion surrounding rare earth oxides from unconventional resources, and we have been diligently working behind the scenes to test and develop processes that assess their economic viability. The key to achieving economic viability lies in byproduct economics and the utilization of already extracted coal waste material, which can be efficiently preprocessed into a useable form. Additionally, the high concentrations of aluminum oxide and silicon dioxide, combined with the rare earth element content, provides significant advantages for our process, given the growing demand for these high-purity materials in the battery and defense sectors. Today, we are proud to announce that our controlled resources demonstrate a sufficiently high concentration, coupled with minimal extraction costs, representing a potential breakthrough for the industry. ReElement’s next-generation critical mineral refining platform continues to prove its capability to source critical mineral feedstocks from both primary and recycled sources globally, fostering a robust supply chain independent of China. We now believe that our innovative platform can deliver techno-economic viability for our controlled resource base, which includes millions of tons of feedstock derived from decades of coal mining waste. Furthermore, given the increasingly fragile state of the global supply of refined critical minerals, we are confident that ReElement is uniquely positioned to address supply chain and national security challenges effectively.”