9-Month extension supports continued site development with expanded focus of rare earth concentrates from coal mining waste as well as lithium ores
Bond Purchase Agreement was executed with a sole institutional investor
FISHERS, IN / ACCESS Newswire / March 27, 2025 / American Resources Corporation (NASDAQ:AREC) ("American Resources") through its holding in ReElement Technologies Corporation ("ReElement" or the "Company"), a leading provider of high-performance refining capacity of rare earth and critical battery elements, today announced that it has successfully executed and signed a Bond Purchase Agreement with a sole institutional investor. This agreement extends the existing $150,000,000 principal amount of Kentucky Industrial Building Revenue Bonds, Series 2024, supporting the Company's Kentucky Lithium LLC ("KYL") complex located near Kite, Kentucky.
The Company's Knott County, Kentucky refining facility is being designed with an initial capacity to produce 15,000 metric ton per year of battery-grade lithium carbonate (Li2CO3) or lithium hydroxide (LiOH), along with the refining of rare earth oxides and other critical minerals essential for defense and semiconductor applications which are sourced from concentrates produced from regional mining waste in Appalachia. ReElement's modular, versatile and scalable technology allows for the processing of various feedstocks and efficient future capacity expansion based on feedstock supply and product demand. The KYL facility and technology corresponds with the Company's milestone achievements of economically producing ultra-pure (99.96%), battery-grade Li2CO3 from hard rock, spodumene-bearing pegmatite ore, as well as 99.5% separated rare earth oxides from locally sourced mining waste. As the Company scales up its domestic critical mineral refining capacity to strengthen a resilient supply chain, it utilizes its patented multi-modal chromatography technology at commercial scale.
Key attributes of the KYL facility include:
Low Carbon Footprint - The facility is expected to be one of the world's lowest carbon footprint commercial critical mineral purification and refining operations based on initial life-cycle analysis. By integrating ReElement's low-footprint, low-energy chromatographic separation and purification technology into a broader hydrometallurgical process, which significantly reduces chemical usage compared to traditional solvent-based methods. Additionally, solar energy and battery storage will provide a sustainable and stable power source.
Brownfield Redevelopment - The KYL facility is being developed on a former coal mining site, repurposing existing infrastructure and land minimizing environment impact while also reducing build time and accelerating startup operations.
Coal Industry Workforce Redevelopment - The facility will employ skilled team members and a workforce from the coal industry, leveraging their expertise in raw material commodity processing while expanding their skill sets for the energy transition industry. The KYL facility is projected to initially support approximately 113 well-paying jobs in the community.
Kirk Taylor, CFO of American Resources Corporation and ReElement Technologies Corporation commented, "We are pleased to have executed this Bond Purchase Agreement Extension with this sole investor. Their partnership provides ongoing flexibility as we continue to develop and expand this project, which aligns with the objectives outlined in the recent Presidential Executive Order to take Immediate Measures to Increase American Mineral Production. Our patented critical mineral refining technology is uniquely versatility to feedstock and allows for efficient scalable capacity while delivering strong economic returns for investors. Unlike traditional solvent extraction methods, which require large upfront investments and high-cost, rigid nameplate operating capacities that may take years to become profitable, our modular approach enables efficient, cost-effective operations and expansion as the domestic supply chain evolves."
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 available today. Specifically designed for rare earth element extraction and purification, LAD chromatography offers a cleaner and greener purification process compared to conventional solvent-based extraction methods. It provides superior yield, productivity, flexibility and efficiency enabling smaller and scalable processing volume without the harsh or toxic chemicals.
This advanced separation and purification technology offers key benefits, including:
Aqueous Chemistry - Eliminates the need for toxic and hazardous organic solvents, making the process safer and more environmentally friendly.
Lower Capital Expenditures - A few chromatography units can replace hundreds or even thousands of mixer-settlers to achieve the same throughput and product requirements.
High Versatility - An intrinsic-parameter-based design and predictive simulation tools allow for rapid, adaptable refining across various feedstocks and production scales.
Modular and Scalable Capacity - Easily expands processing volumes in alignment with growing feedstock availability.
Localized Processing - Reduces the need for raw ore transportation across the globe, strengthening supply chain security and efficiency.
Learn more about ReElement Technologies' process and technology here - Video.
About ReElement Technologies Corp
ReElement Technologies Corp is redefining how critical and rare earth elements are both sourced and processed while focusing on the recycling of end-of-life products such as rare earth permanent magnets and lithium-ion batteries, as well as coal-based waste streams and byproducts to create a low-cost and environmentally-safe, circular supply chain. ReElement Technologies has developed its innovative and scalable "Capture-Process-Purify" process chain in conjunction with its licensed intellectual property including 16 patents and technologies and sponsored research partnerships with three leading universities to support the domestic supply chain's growing demand for magnet and battery metals. For more information visit reelementtech.com or connect with the Company on Facebook, Twitter, and LinkedIn.
About American Resources Corporation
American Resources Corporation is a leader in the critical mineral supply chain, developing innovative solutions both upstream and downstream of the refining process. The company and its affiliates focus on the extraction and processing of metallurgical carbon and iron ore, essential ingredients in steelmaking, as well as critical and rare earth minerals for the electrification market and recycled metals.
Leveraging its affiliation and former parent status of ReElement Technologies Corporation, a leading provider of high-performance refining capacity for rare earth and critical battery elements, American Resources is investing in and developing efficient upstream and downstream critical mineral operations. These operations include mining interests in conventional and unconventional sources, recycling, and manufacturing.
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
AREC@jtcir.com
Media Inquiries:
Marjorie Weisskohl
703-587-1532
mweisskohl@allseasonspr.com
Company Contact:
Mark LaVerghetta
317-855-9926 ext. 0
investor@americanresourcescorp.com
SOURCE: American Resources Corporation
View the original press release on ACCESS Newswire
