American Resources Corporation (NASDAQ:AREC) announced that it has partnered with Land Betterment Corporation to support the development of a historical museum in Kragon, Kentucky, after discovering historical and cultural artifacts on the former mining site during a land reclamation process.
The extractor and processor of metallurgical carbon said the museum will be located near the identified site of historical indigenous burial grounds dating back as far as 7 to 800 AD and showcase the history and findings of the site.
“We took this non-core property when American Resources' acquired Knott County Coal in 2016 during the bankruptcy of Arch Coal with the intent of removing the decaying coal loadout facility and related infrastructure that sat idle for over a decade, then fully reclaim the land to get the $700,000 of environmental surety bonds released,” American Resources Corporation (NASDAQ:AREC) CEO Mark Jensen said in a statement.
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“Once 90% of the work was completed and were approaching the final phase of remediation, the landowner and friend, Doug Terry, asked us to cease work following the discovery of what was believed to be a second ancient burial ground on the property underlying the land that would have been required to be excavated to complete the final stage remediation,” Jensen added.
American Resources noted the museum will be open for public viewing, which should also create jobs for the region as well as boost historical-driven tourism.
American Resources Corporation (NASDAQ:AREC) is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market. The company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking, critical and rare earth minerals for the electrification market, and reprocessed metal to be recycled.
American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon and rare earth mineral deposits are concentrated.
Contact Sean at sean@proactiveinvestors.com