Business
American Resources Corporation Provides Update on Perry County Resources Complex and American Carbon Division
Company recommences shipments of carbon from PCR complex PCR mine has implemented expansion to utilize three continuous miners with plan to utilize a total of
About this update from American Resources Corporation
[{"type":"text","content":"Company recommences shipments of carbon from PCR complex PCR mine has implemented expansion to utilize three continuous miners with plan to utilize a total of fivePCR complex will employ over 170 workers when fully ramped under its low-cost operating modelFISHERS, IN / ACCESSWIRE / March 30, 2021 / American Resources Corporation (NASDAQ:AREC) (\"American Resources\" or the \"Company\"), a next generation and socially responsible supplier of raw materials to the new infrastructure and electrification marketplace, today provided an operational update of its Perry County Resources (PCR) complex and its American Carbon division.The Company has commenced shipping specialty stoker carbon to customers for industrial purposes. Additionally, American Resources has begun ramping the production of the PCR mine under its low-cost operating structure and mine plan. The Company is scaling its production utilizing three continuous miners to increase its carbon production for its baseload steel customers and plans to scale its production to utilize a total of five continuous miners throughout the year.Tarlis Thompson, Chief Operating Officer of American Resources Corporation commented, \"These shipments from Perry County Resources represent our first since idling and restructuring the complex during the midst of the COVID-19 pandemic. We are very excited to bring the complex back online to showcase our efficient low-cost structure, supply our customers with a high-quality, stable product and bring stable well-paying jobs back to this region.\"The PCR complex has been restructured under American Resources operating strategy to reduce legacy liabilities, streamline operations to focus on efficiencies, safety and environmentalism and reposition its assets to leverage the needs of a more modern-day economy. The PCR complex is well-positioned to be one of the most competitive complexes in the region and will employ over 170 workers with stable well-paying jobs are it reached its targeted capacity of 1.0 - 1.5 million tons of carbon per annum.Additionally, the Company has deployed a development and maintenance crew to its McCoy Elkhorn (MEC) complex to prepare the complex to be brought back online. The crew is performing maintenance work at its Carnegie 1 mine and Bevins Branch processing facility as well as development work at its Carnegie 2 mine. T...