Company produces greater than 99.7% Neodymium (Nd) and 99.9% pure Neodymium / Praeseodymium (NdPr) from a rare earth ore concentrated feedstock
ReElement confirms that mixed rare earth concentrates from both natural ore and recycled magnets are highly economical at both small and large scale in today's market
FISHERS, IN / ACCESSWIRE / July 31, 2024 / American Resources Corporation's (NASDAQ:AREC) ("American Resources" or the "Company") wholly owned subsidiary, ReElement Technologies Corporation, ("ReElement") a leading provider of high performance refining capacity of rare earth and critical battery elements, announced today that it has demonstrated its technology in the separation and purification of rare earth ores to produced separated and purified rare earth elements at magnet grade. The demonstration process was conducted from an ore concentrate provided by a partner to showcase the Company's ability to extract, separate and purify the high-value elements in the ore body that can supply the rare earth magnet supply chain.
Mark Jensen, CEO of ReElement Technologies said, "Our team has mobilized quickly on a very large and attractive opportunity in the rare earth ore separation and purification market. With today's announcement we have demonstrated our teams ability to separate and purify magnet-grade rare earth elements cost effectively from rare earth ore concentrate. We announced our expansion to all feedstocks in April of this year and have quickly been turning around customer samples that are looking for a more cost effective and environmentally friendly method to sperate and purify rare earth elements from ores that do not utilize a solvent extraction process in the separation and purification phase of the refining process. The solvent extraction process, largely utilized today in China, has proven to be very challenging to deploy outside of China due to the process's severe environmental impact, high CapEx and OpEx requirements and limited flexibility. Today, we are excited to share the high efficacy of our technology platform to achieve the desired results with natural ores, but that we can deploy anywhere in the world due to our platform's cost and operating efficiencies and environmental safety. We look forward to scaling our production capacity in Marion, Indiana with our initial production trains being focused on recycled magnets and rare earth ore concentrates from our worldwide partnerships."
In April of 2024 ReElement announced it has expanded its exclusive use of the patents for ligand assisted displacement ("LAD") chromatography and knowhow for all feedstocks to now include rare earth ores. These exclusive patents and technologies, developed at Purdue University, have been utilized by ReElement at its Noblesville, Indiana Commercial Qualification Facility to produce ultra-pure rare earth oxides and critical battery elements to the growing magnet and energy storage industries. ReElement has successfully developed its critical mineral platform technology providing a high performance and scalable solution for separating, purifying and refining rare earth and critical elements in an efficient, low cost and environmentally safe process outside of China.
ReElement is currently evaluating or in conversations with providers of rare earth ores from four different continents with the goal of either partnering with such parties or acquiring their rare earth concentrates to be refined domestically. Rare earth elements (REEs) include the 15 elements in the lanthanide series plus scandium (Sc) and yttrium (Y). REEs are essential ingredients for high-end commercial and national defense applications in magnets, metal alloys, catalysts, ceramics, and phosphors, which are important for high-technology and clean energy applications. The REE market was valued at $5.37 billion in 2022 and is expected to reach $14.24 billion by the end of the 2030, while being critical inputs in products and applications valued at over $4 trillion.
Ligand Assisted Displacement ("LAD") Chromatographic Separation and Purification
The use of LAD chromatography to separate, purify and refine rare earth and critical elements is the most cost effective and environmentally safe methods utilized to date. LAD chromatography, as designed for rare earth element extraction and purification, is a much cleaner and greener purification process compared to conventional solvent-based extraction methods. It has a higher yield, productivity, flexibility and efficiency allowing for smaller and scalable processing volume without the harsh or toxic chemicals.
The technology enables:
Modular and scalable production capacity (growing processing volumes efficiently as feedstock production expands);
Localization of processing (Removing the need to transport raw ore across the world);
Significantly less chemical and energy use; and
Versatility of technology for multiple feedstocks (ores, recycled material, etc.).
Learn more about ReElement Technologies' process and technology here - Video.
About American Resources Corporation
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.
American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure and electrification markets while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit americanresourcescorp.com or connect with the Company on Facebook, Twitter, and LinkedIn.
About ReElement Technologies Corporation
ReElement Technologies Corporation is redefining how critical and rare earth elements are both sourced and processed while focusing on the recycling of end-of-life products such as rare earth permanent magnets and lithium-ion batteries, as well as coal-based waste streams and byproducts to create a low-cost and environmentally-safe, circular supply chain. ReElement has developed its innovative and scalable "Capture-Process-Purify" process chain in conjunction with its licensed intellectual property including 16 patents and technologies and sponsored research partnerships with three leading universities to support the domestic supply chain's growing demand for magnet and battery metals. For more information visit reelementtech.com or connect with the Company on Facebook, Twitter, and LinkedIn.
About Purdue Research Foundation Office of Technology Commercialization
The Purdue Research Foundation Office of Technology Commercialization operates one of the most comprehensive technology transfer programs among leading research universities in the U.S. Services provided by this office support the economic development initiatives of Purdue University and benefit the university's academic activities through commercializing, licensing and protecting Purdue intellectual property. The office recently moved into the Convergence Center for Innovation and Collaboration in Discovery Park District, adjacent to the Purdue campus. In fiscal year 2019, the office reported 136 deals finalized with 231 technologies signed, 380 disclosures received and 141 issued U.S. patents. The office is managed by the Purdue Research Foundation, which received the 2019 Innovation and Economic Prosperity Universities Award for Place from the Association of Public and Land-grant Universities. In 2020, IPWatchdog Institute ranked Purdue third nationally in startup creation and in the top 20 for patents. The Purdue Research Foundation is a private, nonprofit foundation created to advance the mission of Purdue University. Contact otcip@prf.org for more information.
Special Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond American Resources Corporation's control. The words "believes", "may", "will", "should", "would", "could", "continue", "seeks", "anticipates", "plans", "expects", "intends", "estimates", or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.
Investor Contact:
JTC Team, LLC
Jenene Thomas
833-475-8247
AREC@jtcir.com
RedChip Companies Inc.
Robert Foley
1-800-RED-CHIP (733-2447)
Info@redchip.com
Company Contact:
Mark LaVerghetta
317-855-9926 ext. 0
Vice President of Corporate Finance and Communications
investor@americanresourcescorp.com
SOURCE: American Resources Corporation
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