American Resources’ ReElement updates progress on Marion, IN super site

American Resources (AREC) Corporation’s ReElement Technologies has installed power, water and natural gas access and has commenced ordering and delivering equipment to its Marion, IN Advanced Technology super site to bring domestic production of both ultra-pure and separated light and heavy rare earth elements as well as critical battery materials that are IRA compliant. ReElement’s Marion, Indiana super site will be a first mover in reducing the chokehold that China has on the refining for critical and rare earth elements. ReElement is focused on building out phase 1 operations with the ability and goal of significantly expanding the Marion site beyond its initial production capacity over time. Phase 1 production capacity represents approximately $150 million in revenue potential based on current market prices of high purity rare earth oxides and lithium carbonate equivalent. Mark Jensen, CEO,commented, “Rare earth element refining capacity is desperately needed in the United States not only for commercial purposes but most importantly to protect our country and supply our defense industrial base. We couldn’t be more excited to build out this breakthrough refining capacity in Indiana, the heart of the United States, with ability to efficiently expand as the market continues to grow. We have been training our amazing team for our Marion, Indiana facility an our currently operating Noblesville, Indiana site that produces ultra-pure rare earth elements and critical minerals on a daily basis.” Equipment being sourced, ordered or delivered to Marion is initially focused on preprocessing both battery and rare earth materials. The Marion, Indiana site will work with the Noblesville, Indiana site to continually expand final refined products between both facilities as the Company continues to scale up equipment and production in Marion to be a fully commercial facility.