American Resources Corporation (NASDAQ:AREC) announced that its majority-owned ReElement Technologies LLC division has entered into a partnership with Indiana-based RecycleForce, whereby the parties will jointly and independently source and process end-of-life products for its rare earth and critical battery elements to feed the domestic supply chain.
The supplier of rare earth and critical elements said under the terms of the partnership, post the sourcing of end-of-life products, RecycleForce will aggregate and preprocess a high concentrate feedstock of battery elements or permanent magnets to provide to ReElement.
ReElement will then utilize its patented, low-cost, scalable, flexible and environmentally safe chromatographic separation and purification technology to produce high-purity battery elements such as lithium, cobalt, nickel and manganese and rare earth oxides for its magnet and battery manufacturing partners, the company added.
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“Partnerships like this allow us to bolster better social and environmental outcomes while helping the US mitigate the more than $3 billion in rare earth elements that end up in landfills each year, while also diminishing our reliance on imported rare earth and battery elements from environmentally harmful sources,” American Resources Corp CEO Mark Jensen said in a statement.
American Resources noted that ReElement Technologies has proven that its patented chromatographic separation and purification is a low cost, scalable, flexible and an environmentally safe replacement to the existing environmentally and socially toxic alternatives used around the globe for rare earth and critical element separation and purification.
It added that as the company executes and scales the production at its facilities, it will significantly reduce the country’s dependency on foreign nations for the supply of these critical raw materials while also creating a true circular life-cycle solution.
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