American Resources Corp (NASDAQ:AREC) earlier this week discussed a memorandum of understanding with Impossible Metals, a company focused on seabed nodule collection technology.
The nodules contain critical minerals such as copper, cobalt, nickel, manganese, and rare earth elements.
The company said Impossible Metals’ system allows for selective nodule collection without disturbing the surrounding environment.
American Resources Corp plans to integrate this feedstock into its domestic refining operations.
It highlighted that its existing platform enables companies like Impossible Metals to directly process material using American Resources' infrastructure. The company said this supports the strategic aim of domestic refining, in line with a recent US executive order.
CFO Kirk Taylor said the refining platform is already commercially active. “Our proven refining platform allows companies like Impossible Metals to plug right into our technology and process their feed,” he told Proactive.
The company also noted its flexibility in handling a wide range of mineral feedstocks. It said this was a key reason behind the $150 million interest from Exim Bank for its Marion, Indiana facility currently under development.
Taylor added that American Resources can begin testing and adapting its refining processes immediately as nodules become available. The company expects this to accelerate material delivery to US customers involved in magnet and battery manufacturing.