American Resources Corporation Provides Update on Economic Viability of Rare Earth Element Production from Carbon Mine Waste

ReElement Technologies has demonstrated technical and economic viability of producing rare earth elements from controlled carbon waste streams

ReElement's proprietary refining process, combined with an abundance of controlled feedstock, provides a breakthrough in producing rare-earth elements from mine waste with planned local processing capabilities at its Kentucky Lithium facility

FISHERS, IN / ACCESSWIRE / December 12, 2024 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company") announced today that its wholly-owned subsidiary, ReElement Technologies Corporation ("ReElement"), a leading provider of high-performance refining solutions for rare earth and critical battery elements, has successfully 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 (MREO) 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 (Al2O3) and silicon dioxide (SiO2), 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."

Mr. Jensen added, "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."

Rare earth and critical minerals are essential components in the electric drive trains (magnets and batteries) used in e-mobility, as well as in various electronics and military applications worldwide. American Resources' majority-owned subsidiary, American Infrastructure Corporation, has an agreement with ReElement Technologies to refine concentrated rare earth materials from unconventional coal-based resources into ultra-pure products. Currently, over 90% of the world's rare earth elements are refined in China using processes with significant environmental drawbacks. ReElement's mission is to expand its operations and offer the world a more sustainable and environmentally friendly alternative for refining rare earth and critical minerals.

Recently, trade restrictions between China and the United States have intensified, particularly concerning critical minerals and advanced materials essential for microchip manufacturing. Earlier this month, China announced a ban on the export of specific critical minerals, including gallium, germanium, and antimony. Additionally, reports indicate that dysprosium, a heavy rare earth element of which China refines 99.9% of the global supply, has become increasingly vital in the production of advanced semiconductors that power artificial intelligence technologies.

ReElement continues to expand and scale its refining platform through owned and operated facilities as well as collaborative partnerships, offering "separation as a service" to industry participants. The company recently announced daily production of ultra-pure heavy and light rare earth oxides, along with battery-grade lithium carbonate. Additionally, ReElement recently provided an update on the development of its Marion, Indiana super-site, which is set to become the largest combined rare earth element and lithium refining facility in the United States.

Ligand Assisted Displacement ("LAD") Chromatographic Separation and Purification

The use of LAD chromatography to separate, purify and refine rare earth and critical elements is the most cost effective and environmentally safe methods utilized to date. LAD chromatography, as designed for rare earth element extraction and purification, is a much cleaner and greener purification process compared to conventional solvent-based extraction methods. It has a higher yield, productivity, flexibility and efficiency allowing for smaller and scalable processing volume without the harsh or toxic chemicals.

The technology enables:

• Modular and scalable production capacity (growing processing volumes efficiently as feedstock production expands);

• Localization of processing (Removing the need to transport raw ore across the world);

• Significantly less chemical and energy use; and

• Versatility of technology for multi-mineral, multi-feedstock (ores, recycled material, etc.).

Learn more about ReElement Technologies' process and technology here - Video.

About ReElement Technologies Corporation
ReElement Technologies Corporation, a wholly owned subsidiary of American Resources Corporation (NASDAQ:AREC), is a leading provider of high-performance refining capacity for rare earth and critical battery elements. Its multi-mineral, multi-feedstock platform technology focuses on the refining of recycled material from rare earth permanent magnets and lithium-ion batteries, concentrated ores and brines, as well as coal-based waste streams and byproducts to create a cost effective and environmentally-safe, circular supply chain. ReElement has developed its innovative and scalable "Powered by ReElement" process which collaboratively utilizes its exclusively licensed intellectual property within its partners' material processing flow sheets to more efficiently support the global supply chain's growing demand for magnet and battery-grade products. For more information visit reelementtech.com or connect with the Company on Facebook, Twitter, and LinkedIn.

About American Resources Corporation
American Resources Corporation (NASDAQ:AREC) 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.

Special Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond American Resources Corporation's control. The words "believes", "may", "will", "should", "would", "could", "continue", "seeks", "anticipates", "plans", "expects", "intends", "estimates", or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.

Investor Contact:
JTC Team, LLC
Jenene Thomas
908-824-0775
[email protected]

Company Contact:
Mark LaVerghetta
317-855-9926 ext. 0
[email protected]

SOURCE: American Resources Corporation

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