Business
American Resources Corporation Reports Third Quarter 2022 Financial Results and Provides Business Outlook
The first domestic, commercial producer of separated and high-purity REEs from recycled permanent magnetsOn track to commercially produce separated and
About this update from American Resources Corporation
[{"type":"text","content":"The first domestic, commercial producer of separated and high-purity REEs from recycled permanent magnetsOn track to commercially produce separated and high-purity battery elements from recycled lithium-based batteries in 4Q 2022Company's patented chromatographic separation and purification process defining itself as the only complete recycling solution for all the critical and REEs in the EV powertrainCarbon sales increase 240% year-over-year as Company's carbon platform well positioned to capitalize on continued market strength and opportunities over the next several yearsCompany to host update conference call today at 4:30 PM ETFISHERS, IN / ACCESSWIRE / November 15, 2022 / 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 third quarter of 2022 and provided a corporate update. The Company will host a conference call and webcast, today, November 15, 2022, at 4:30 PM ET (details below).Mark Jensen, Chairman and CEO of American Resources Corporation commented, \"The third quarter of 2022 showcased groundbreaking milestones and continued execution on all fronts as we position our innovative platform of assets to create long-term shareholder value. While we idled our Perry County Resources complex due to some maintenance and labor disruptions from the disastrous flooding which took place in eastern Kentucky in late July, we remain in a fundamentally strong position to monetize our carbon assets. We have several options and opportunities to do so, and we remain focused on maximizing the value rather than committing to quicker, less attractive options. It is worth highlighting, our ReElement Technologies (\"ReElement\") division's recent milestone of being the first domestic, commercial producer of isolated and high-purity rare-earth elements. We have demonstrated our success and ability to produce greater than 99.5% pure neodymium, dysprosium and praseodymium at commercial scale. These rare earth elements are needed in high efficiency motors such as electric vehicles, windmill turbines and defense technology, and we are just a few short weeks away from demonstrating the...