Business
American Resources Corporation Reports Fourth Quarter and Record Full Year 2022 Financial Results and Provides Business Outlook
2022 revenues increased over 400% vs. 2021 and carbon operations continue to scaleThe first domestic, commercial producer of separated and high-purity REEs
About this update from American Resources Corporation
[{"type":"text","content":"2022 revenues increased over 400% vs. 2021 and carbon operations continue to scaleThe first domestic, commercial producer of separated and high-purity REEs from recycled permanent magnets and high-purity battery elements from recycled lithium-based batteriesCompany's patented chromatographic separation and purification process defining itself as the world-leading critical mineral refining technologyStrong balance sheet provides financial strength and flexibility to execute on its innovation, collaboration and growth plansCompany to host update conference call today at 4:30 PM ETFISHERS, IN / ACCESSWIRE / March 30, 2023 / American Resources Corporation (NASDAQ:AREC) (\"American Resources\" or the \"Company\"), a next generation and socially responsible supplier of rare earth and critical elements, carbon and advanced carbon materials to the new infrastructure and electrification marketplace, today announced financial results for the fourth quarter and full year ended December 31, 2022. The Company will host a conference call and webcast, today, March 30, 2023, at 4:30 PM ET (details below).Mark Jensen, Chairman and CEO of American Resources Corporation commented, \"Throughout 2022 we further established our pillars of growth and have uniquely positioned our businesses to capitalize on defined growth opportunities across the markets we serve. We believe the past year, where we realized record revenues, marks an exciting inflection point in our transformational evolution as a Company. Our American Carbon division is uniquely positioned to provide incremental metallurgical carbon to a supply constrained global steel market, with a relatively much lower capital cost, given the assets we own and the restructuring we have already completed. ReElement Technologies has become the most exciting entity we have ever been a part of as it establishes itself as a world-leading critical mineral refining technology. The critical and rare earth elements we refine are imperative to operate our modern-day technology including electric vehicles, clean energy and defense applications. ReElement's patented chromatographic separation and purification technology addresses the biggest bottleneck within our domestic and global supply chain. We believe our proven ability to sustainability produce ultra-pure critical mineral products in a smaller, cleaner a...