American Resources Corporation (NASDAQ:AREC) CEO Mark Jensen tells Proactive the West Virginia Economic Development Authority preliminarily approved the issuance of a $45 million tax-exempt Solid Waste Disposal Facility Revenue Bond, Series 2022, for the company's Wyoming County Coal complex located near the town of Oceana, West Virginia.
Jensen says the proposed funding source will enable the group to efficiently modernize and transform the complex to be the first in the industry process for both carbon and rare earth concentrates.