American Resources Corp (NASDAQ:AREC) earlier this week signed a new partnership agreement with Uzbekistan to collaborate on the development and refinement of tungsten and potentially other critical minerals.
The company said the partnership reflects the increasing recognition of its modular and scalable co-located refining technologies, developed through its ReElement division. These technologies are designed to process a wide range of elements including germanium, gallium, and rare earth elements.
Mark Jensen, the CEO of American Resources, told Proactive the deal strengthens its global supply chain position. “Tungsten is an element and a product that's desperately needed,” he said, highlighting its role in shipbuilding and national defense applications.
Jensen explained that the partnership showcases the strategic alignment between American Resources, the US government, and foreign stakeholders. He added that the company is actively acquiring feedstock ownership, with further announcements expected soon.
The company highlighted that ReElement's competitive edge lies in its ability to design flow sheets for diverse elements. This capability, it said, allows it to offer tailored solutions to governments and commercial partners. American Resources is currently expanding this platform from its Marion, Indiana, facility to international sites.
The company said a joint working group has been established with its Uzbek partners to define the feasibility and investment structure of the tungsten development initiative. Jensen noted that tungsten, while a new product for the group, will follow a similar development cycle to antimony and germanium, both of which ReElement has already brought into production flow sheet development.
“We intend to work with them throughout the development cycle as we start getting samples in and we start getting product tested,” he said.
The company noted that ReElement is currently well capitalized, but it is working with partners to optimize capital deployment during the development process.