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American Resources Corporation's ReElement Technologies and LVC Global Holdings Launch "ReElement Middle East" to Advance Critical Minerals Processing in the Region
FISHERS, IN and RIYADH, SAUDI ARABIA / ACCESSWIRE / January 13, 2025 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"),
About this update from American Resources Corporation
[{"type":"text","content":"FISHERS, IN and RIYADH, SAUDI ARABIA / ACCESSWIRE / January 13, 2025 / American Resources Corporation (NASDAQ:AREC) (\"American Resources\" or the \"Company\"), through its holding company, ReElement Technologies Corporation (\"ReElement\"), a leading provider of high-performance refining capacity of rare earth and critical battery elements, has partnered with LVC Global Holdings, a premier asset acquisition and advisory firm, to announce the formation of ReElement Middle East.The joint venture aims to revolutionize the processing of critical minerals and strategic metals in the Middle East and is strategically aligned with Saudi Arabia's Vision 2030, which seeks to establish the country as a global hub for critical mineral resources while advancing regional economic diversification.ReElement Middle East will address the urgent need for localized and sustainable processing capabilities in a region that is critical to the global supply chain. The platform will leverage cutting-edge refining technologies and advanced capabilities to reduce reliance on foreign processing, enabling Saudi Arabia and its allies to strengthen supply chain security while meeting growing industrial and defense demands.Critical Minerals: A Cornerstone of National SecurityCritical minerals such as rare earth elements, lithium, germanium, gallium, nickel and cobalt are essential to technologies underpinning modern economies, including renewable energy systems, electric vehicles, semiconductors and advanced defense applications. According to a recent report by the International Energy Agency (IEA), the global demand for critical minerals is expected to quadruple by 2040. However, over 75% of the world's processing capacity currently resides in China, creating vulnerabilities in global supply chains. ReElement Middle East aims to bridge this gap by establishing sustainable and secure processing solutions in the heart of the Middle East.Empowering Saudi Arabia's Vision 2030Aligned with Saudi Arabia's Vision 2030, this joint venture supports the Kingdom's goal of becoming a net supplier of critical minerals to strategic partners, including the United States. The collaboration not only enhances Saudi Arabia's role as a global leader in the critical minerals space but also contributes to the region's economic diversification efforts and energy transition strategi...