American Resources Corp (NASDAQ:AREC) is stepping up its bet on rare earth elements, announcing Friday that its ReElement Technologies unit has expanded a refining plant in Indiana by 141%.
The Noblesville facility will now be able to process more than 200 metric tons a year of ultra-pure rare earths and other critical minerals at purities ranging from 99.9% to 99.999%.
These include neodymium and praseodymium, used in high-strength magnets, as well as yttrium, gallium and dysprosium, which are essential in defence and advanced technologies.
The move adds more than 16,500 square feet of operating space and comes as ReElement continues building its larger Marion “Supersite,” which is being designed to provide industrial-scale refining capacity for magnets, batteries and defence-related materials.
“This expansion of our Noblesville facility showcases the flexibility and scalability of our refining platform and positions us to lead in meeting the growing yet complex demands of both the defence and commercial markets,” said Jeff Peterson, ReElement’s chief operating officer.
American Resources, listed on Nasdaq under the ticker AREC, is aiming to establish itself as an important US supplier of critical minerals at a time when Washington is trying to curb reliance on China, the dominant global refiner.
Rare earths are essential for technologies ranging from fighter jets to wind turbines and electric vehicles.
ReElement’s refining technology uses proprietary chromatography methods, which the company says can produce higher purities with far less waste than conventional processes.
The system can also handle a wide range of inputs, from recycled magnets and batteries to industrial byproducts and ores.
The Department of Defense has set a 2027 target for building a secure domestic “mine-to-magnet” supply chain. American Resources said the Noblesville expansion will help bridge near-term demand, while the Marion site is expected to support large-scale production in the years ahead.