American Resources Corporation's ReElement Technologies Brings Rare Earth Element and Lithium Production Back to the United States with Receipt of Certificate of Occupancy for Marion, Indiana Supersite

ReElement's Marion Indiana supersite is a 42-acre campus with over 425,000 square feet under roof that will reduce the stronghold China has on rare earth element and lithium refining

Phase 1 capacity is being designed for 5,000 metric tons of lithium carbonate (99.9%+) and 1,000 metric tons of rare earth oxides (99.5%+) representing phase 1 revenue potential of $142 million based on market prices

Watch CEO Mark Jensen and Marion Mayor, Ronald Morrell, Jr. discuss this milestone on demand here on the Virtual Investor platform's What This Means series

FISHERS, IN / ACCESSWIRE / April 25, 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, today announced that it has received its initial certificate of occupancy for its Marion, Indiana Advanced Technology Center supersite, which will be a first mover in reducing the chokehold that China has on the refining for critical and rare earth elements. ReElement is focused on building out phase 1 operations with the ability and goal of significantly expanding the Marion site beyond the initial production capacity over time. Phase 1 production capacity represents approximately $142 million in revenue potential based on current market prices of rare earth oxides and lithium carbonate production.

Mark Jensen, Chief Executive Officer American Resources Corporation and ReElement Technologies commented, "This is an exciting day for ReElement, our shareholders, the Marion, Indiana community as well as the global economy that relies almost entirely on China for its refining of critical and rare earth elements. We are thankful for the support of the community of Marion, Mayor Morrell, Common Council, and the rest of local government for their support as we move quickly to deploy our platform technology for larger scale commercial operations in the Marion community. This site just received its certificate of occupancy, which once was the largest employer in Marion. This milestone is another successful step in how we are supporting the reshoring of domestic manufacturing of clean tech applications, bringing jobs back to local communities, while also refining materials that bolster our national security to eliminate the need to rely upon single-source, foreign nations for key elements used by our military. This is a monumental day for our Company, and we are challenging our team to expand this site to be the largest producer of lithium carbonate and rare earth oxides in the United States over the coming years."