American Resources Corp (AREC)

[RandyKCMO]

NEWS American Resources Corporation Acquires Operating Rights to PCI Carbon Surface Mine
Fri, March 11, 2022, 7:00 AM·



Facility Could Add 4,000 to 15,000 Tons per Month of Incremental Production to the Company's McCoy Elkhorn Complex

Acquisition Expected To Increase Revenues for Company Beginning in June

FISHERS, INDIANA / ACCESSWIRE / March 11, 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 that it has acquired the operating rights to a PCI carbon surface mine operation to further expand the production of their McCoy Elkhorn Complex in Pike County, Kentucky.

Thomas Sauve, President of American Resources Corporation commented, "We are excited to be able to bring incremental, near-term production opportunities to life given our vast asset base in the region. This operation is a low-cost opportunity with high quality product that will have the ability to serve our steel-making customers. We are putting a plan in place to bring this operation online over the next 60 days. This job will add an additional 15 direct and indirect jobs to the local community. Additionally, bringing this operation online in the current market will help feed the massive shortage in the supply of high-quality carbon while allowing us to capitalize on current market prices."

Carbon production from this operation will be transported approximately 15 miles to the Company's state-of-the-art processing facilities at its McCoy Elkhorn complex to be processed and shipped to customers. The quality of this operation is anticipated being sold into the PCI and specialty carbon markets. Once ramped, the Company anticipates the operation to produce between 5,000 to 15,000 tons per month. While the terms of the transaction were not disclosed there was no capital paid upfront as part of the transaction.

American Resources continues to focus on running efficient streamlined operations in being a new-aged supplier of raw materials to the infrastructure and electrification marketplace in the most sustainable of ways, while also helping the world achieve its goals of carbon neutrality. By operating with low or no legacy costs and having one of the largest and most innovative growth pipelines in the industry, American Resources Corporation works to maximize value for its investors by positioning its large asset base to best fit a new-aged economy, while being able to scale its operations to meet the growth of the markets it serves….


https://www.accesswire.com/692650/American-Resources-Corporation-Acquires-Operating-Rights-to-PCI-Carbon-Surface-Mine