NEWS! American Resources Corporation Commences Planning and Development on Next Two Metallurgical Carbon Mines
Mines have a low-cost of development and are capable of producing up to 45,000 tons per month
Company's McCoy Elkhorn complex has substantial embedded organic growth with its hub and spoke model, existing permits, 2 onsite carbon processing facilities and rail load out facility
FISHERS, IN / ACCESSWIRE / August 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 post the success of staffing and starting its Carnegie 2 mine, it has commenced planning and development on its next two carbon mines in Pike County, KY to supply its McCoy Elkhorn complex with additional low cost high quality metallurgical carbon for the global steel industry.
Tarlis Thompson, COO of American Resources commented, "Over the last 7 years we have acquired, restructured and repositioned our extensive asset base enabling our carbon platform to deliver substantial organic growth that require low capital investment. With over 40 existing mining permits, five processing and logistics hubs, substantial remaining mine life and a high margin profile, our platform is a unique source of growth within our industry. Our team has dedicated substantial time and energy over the years to fully restructuring and repositioning these complexes to substantially streamline the facilities, their operations and our corporate overhead to enable a low cost structure and sustainable jobs for the community. Today these assets are in a position to unlock the value and take advantage of the strong global demand for carbon over the next few decades. Having these assets in place positions our platform as one of the few that can organically expand production to feed the demand especially while older mines in our region are coming to end of life."
McCoy Elkhorn Complex was formerly a complex owned and ran by James River Coal as one of their premier facilities. The complex is one of the last high-quality, long-life mining facilities in the market and in the region. The hub and spoke facility is centered around two state of the art processing plants (800 tph and 500 tph) and a 110 car unit train rail load out facility and two fully approved and permitted impoundments that can process north of 6 million tons of carbon per year. Post the start of the next two mines, the Company will begin the planning of the next phase of organic growth from the McCoy Elkhorn complex. Internally, the Company is focused on organically expanding production to 1.5 million to 2 million tons per year.
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.
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