The Bill would establish a strategic reserve of rare earth metal and rare earth metal products
The strategic reserve would build a one-year supply of rare earth elements to meet the United States' domestic needs in the event of a supply disruption
FISHERS, IN / ACCESSWIRE / January 26, 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 its support of the proposed Restoring Essential Energy and Security Holdings Onshore for Rare Earths (REEShore) Act of 2022 introduced by Senators Tom Cotton (R-Arkansas) and Mark Kelly (D-Arizona).
Mark Jensen, CEO of American Resources commented, "In the first half of 2022 we will be operating our Noblesville, Indiana rare earth processing facility that will be producing isolated critical and rare earth elements to a 99.5% or greater purity through the recycling of end-of-life permanent magnets and lithium-ion batteries. There is an estimated $3 billion of rare earth metals that go to landfills yearly in the United States, but there is currently limited domestic permanent magnet manufacturing. Having the U.S. government put in place a strategic reserve to stockpile rare earth elements is imperative for national security, but will also assist in building the market for rare earth elements and rare earth magnet production capabilities domestically. Additionally, our technology and processes help address our national sustainability and supply chain challenges by closing the loop on the life cycle of these metals."
The Company's subsidiary, American Rare Earth LLC is finalizing the build of its Noblesville, Indiana Rare Earth and Battery Metals processing facility which is first focusing on the circular supply chain of these increasingly important raw materials. This first facility is being built with two production trains with the first being used to isolate and purify rare earth elements from end-of-life rare earth permanent magnets. These end-of-life magnets are considered super-grade or highly concentrated feedstocks of the rare earth elements neodymium (Nd), praseodymium (Pr) and dysprosium (Dy), essential in high-efficiency motors required in electric vehicles as well as defense and technology applications. The second production train is focused on refining black mass acquired from the recycling of spent lithium-ion batteries. American Rare Earth, through its patented process and technology, isolates and purifies all of the high value components of the black mass for resale including the lithium (Li), cobalt (Co), nickel (Ni), manganese (Mn), graphite and carbon black.
Create a Strategic Reserve of Rare-Earth Elements: Require the Departments of Defense and the Interior to create a strategic reserve of rare-earth elements and products by 2025. The reserve must meet the needs of the U.S. military, defense industrial and technology sectors, and other critical infrastructure for one year in the event of a supply disruption.
Require Country of Origin Disclosure: Require Department of Defense contractors to track and disclose the origins of rare-earth magnets used in systems that it delivers to the U.S. military.
Restrict Use of Chinese Rare-Earth Metals in Advanced Defense Technology: Prohibit Chinese rare-earth metals from being used in sensitive Department of Defense systems by 2026.
Investigate China's Unfair Trade Practices: Require the Office of the U.S. Trade Representative and Department of Commerce to submit a report to Congress on China's unfair trade practices in the rare-earth metal market, with potential tariffs to follow.
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.
American Resources Corporation is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking, critical and rare earth minerals for the electrification market, and reprocessed metal to be recycled. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon and rare earth mineral deposits are concentrated.
American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure and electrification markets while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit americanresourcescorp.com or connect with the Company on Facebook, Twitter, and LinkedIn.
Special Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond American Resources Corporation's control. The words "believes", "may", "will", "should", "would", "could", "continue", "seeks", "anticipates", "plans", "expects", "intends", "estimates", or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.
PR Contact Precision Public Relations Matt Sheldon 917-280-7329 matt@precisionpr.co
Investor Contact: JTC Team, LLC Jenene Thomas 833-475-8247 arec@jtcir.com
RedChip Companies Inc. Todd McKnight 1-800-RED-CHIP (733-2447) Info@redchip.com
Company Contact: Mark LaVerghetta Vice President of Corporate Finance and Communications 317-855-9926 ext. 0 investor@americanresourcescorp.com
View source version on accesswire.com: https://www.accesswire.com/685544/American-Resources-Corporation-Supports-the-US-Senate-Proposed-Bill-Restoring-Essential-Energy-and-Security-Holdings-Onshore-for-Rare-Earths-Act-of-2022
Fight back against inflation. This is how Dalio does it.
(Bloomberg) -- Bill Gates has a short position against Tesla Inc. that would now need between $1.5 billion and $2 billion to close out, Elon Musk said Friday in a series of tweets.Most Read from BloombergElon Musk Says Bill Gates Has ‘Multi-Billion Dollar’ Tesla Short PositionRussian Wins in Eastern Ukraine Spark Debate Over Course of WarFord Beats Tesla to the Punch With First Electric F-150 DeliveryBitcoin Breaks From Stocks and Keeps On Falling as Crypto SlidesZilingo’s Fired CEO Responds to
Stop investing in mediocre businesses. Buy the best, instead.
Whether you're looking for household goods at discounted prices or need to buy your grocery items in bulk, Costco is the go-to retailer for millions of shoppers across the U.S. But despite its ability to attract a loyal following, Costco has made a number of changes recently that haven't thrilled customers. In April, the warehouse retailer got rid of its special COVID hours for seniors, and just this month, Costco ended its mortgage program for members. Now, the retailer has a new warning for sh
Will we have enough to ‘live a simple life’ in retirement? Many other retirees wonder the same thing as you, and may be in similar financial circumstances where they’re able to pay the bills and have money saved in their retirement accounts. Your interest rate is fantastic, you’re capable of making the monthly payment from just your pension and Social Security without tapping into your 401(k) and you have so much of your home already paid off — all wins.
‘I have made an earnest attempt to get the bank to take their money back, so I was wondering if at any point or time the money would become legally mine.’
The stock market pulled back from the brink of a bear market as rate-hike expectations eased, at least for now. Here's what it will take to signal a bottom.
Lady Gaga just shared a new selfie to Instagram and she's gone topless / no-makeup for the pic, sharing a glimpse of her natural skin texture without filters
Markets are shaky. Your income stream doesn’t have to be.
Giving too much money to these giants? Then start collecting rent from them.
What happened Shares of drugmaker Novavax (NASDAQ: NVAX) are up to the tune of 18.9% as of 2:11 p.m. ET Friday, according to data from S&P Global Market Intelligence, thanks to a confluence of events that work in the company's favor.
Despite all the attention that renewable energy companies get, having operations in the renewable energy space alone does not make a stock a buy. In fact, several renewable energy companies are struggling just to stay profitable. Let's discuss two renewable energy stocks that look attractive right now, and one that's best avoided.
When looking for the best artificial intelligence stocks to buy, identify companies using AI technology to improve products or gain a strategic edge, such as Google, Microsoft and Nvidia.
Many Americans are surprised to see they have not prepared as well as they had hoped for retirement when they finally get ready to call it quits. The bad news is, you’ll probably have to make some realistic assumptions of what your retirement will look like. If you’ve lived primarily paycheck to paycheck in your working years, that may continue to feel the case in your retirement.
Here's what a fundamental and technical analysis says about Google stock. GOOGL stock buybacks remain high as web search and YouTube advertising rebound. But cloud computing growth is key.
Five billionaires lost a total of $300 billion recently as their fortunes plummeted during the recent market downturn, according to the Bloomberg Billionaires Index, which is a daily ranking of the world's richest people. The billionaires who lost the most amount of net worth include the world's three richest men, Elon Musk, Jeff Bezos and Bernard Arnault, who is the CEO of luxury goods retailer LVMH Moët Hennessy . Meta Platforms CEO Mark Zuckerberg and Changpeng Zhao, CEO of Binance, a cryptocurrency exchange, saw their fortunes decline by $135 billion.
Stocks have been inching back in recent days from the brink of bear market territory. It may be time to scoop up shares at steep discounts.
Tesla CEO Elon Musk announced his plans to open an all-night Tesla restaurant in Hollywood that will feature a drive-in movie theater, two 45 ft. LED movie screens, and superchargers.
Don't make the same mistake as Zillow when you try to price a home.
In this article, we discuss the 10 stocks that Jim Cramer and hedge funds agree on. If you want to read about some more stocks that Jim Cramer and hedge funds agree on, go directly to Jim Cramer and Hedge Funds Agree on These 5 Stocks. In the past few weeks, Jim Cramer, the journalist […]