American Resources Corporation (NASDAQ:AREC) announced that it has joined the global Rare Earth Industry Association (REIA), an international non-profit organization representing the global rare earth element (REE) industry.
The company said REIA provides a platform for stakeholders to network, conduct research, and develop strategies and supply chain standards.
“Given our critical and rare earth element purification facility will be operating in the first half of 2022, we believe we can offer the association valuable insights into the innovation and solutions to bolster a circular economy for rare earths and also believe they can offer us broader visibility throughout the industry and the investment community,” American Resources head of corporate finance Mark LaVerghetta said in a statement.
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“We look forward to collaborating with members of the REIA and helping to solve this absolutely imperative growing need of supplying critical and rare earth elements to a growing electrified economy in the most environmentally safe and sustainable ways,” LaVerghetta added.
American Resources noted that, as one of the largest developers of critical and REE in the US, it is focused on redefining how critical and REEs are both sourced and processed throughout the world while focusing on the circular economy of recycling existing permanent magnets and battery metals using its patented chromatography technology, as well as capturing REE from carbon-based waste streams and byproducts.
The company added that through its initiatives, it will be the first to produce isolated and purified (99.5%) magnet and battery metals through recycling end-of-life products using the most environmentally safe methods ever developed.
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