Business
American Resources Corporation Expands Business Operations Through its Wholly Owned Subsidiary, American Metals LLC
American Metals focuses on metal aggregation and processing to recycle used steel to be sold to steel production facilitiesDeane Mining facility selected as
About this update from American Resources Corporation
[{"type":"text","content":"American Metals focuses on metal aggregation and processing to recycle used steel to be sold to steel production facilitiesDeane Mining facility selected as initial location to utilize existing infrastructure to greatly expand its metal recovery businessFISHERS, IN / ACCESSWIRE / July 8, 2020 / American Resources Corporation (NASDAQ:AREC) (\"American Resources\" or the \"Company\"), a supplier of raw materials to the rapidly growing global infrastructure marketplace, announced today the expansion of its wholly owned subsidiary, American Metals LLC (\"American Metals\") and the selection of its currently owned Deane Mining facility in Letcher County, Kentucky as its initial rail load out and logistics location for processed metals.American Metals is expanding the Company's current metal recovery business and will aggregate, process and transport used steel to be recycled and sold to traditional and electric arc furnace steel production facilities. The Company is committed to maximizing the value in everything it does and will utilize the existing infrastructure at its Deane Mining facility which provides excellent access and capabilities, including logistics, a skilled workforce and the ability to haul and aggregate metal from a wide range of locations.\"We are thrilled to have the opportunity to leverage the existing capabilities of our already owned assets to efficiently expand our business and solidify our position as a leading supplier of raw materials to the growing global infrastructure market,\" stated Tom Sauve, President of American Resources. \"Along with a growing revenue line for the Company and diversifying our business, American Metals helps us to achieve two other important corporate initiatives, 1) bettering the environment and 2) expanding our services that we can offer our customer base. A primary source of used steel recovery will come from decommissioned thermal coal mining operations in the region and will assists in land reclamation efforts.\"American Resources is keen on efficiently and effectively utilizing all asset bases to supply customers in the steel industry with raw materials to manufacture steel products in the most sustainable way while focusing on building out its full suite of infrastructure related business lines. The Company is slightly refining the staging and processing area at Deane Mining ...