ReElement has successfully demonstrated its ability to refine antimony ore (stibnite), achieving purity levels exceeding 99.7% for antimony(III) sulfide
The tolling agreement will commence with initial shipments of approximately 500 metric tons of stibnite ore per month to American Resources, with anticipated expansion
FISHERS, IN / ACCESS Newswire / February 27, 2025 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), along with its portfolio company, ReElement Technologies Corporation ("ReElement"), a leading provider of high-performance refining capacity of rare earth and critical battery elements, is pleased to announce that the Company and ReElement have entered into a antimony stibnite tolling agreement for the production of ultra-pure Antimony(iii) sulfide or Antimony(iii) oxide from shipments of stibnite ore shipped to ReElement's central Indiana facilities. The purified antimony will be used to supply the domestic defense and commercial industries based on the two-year contract that automatically extends thereafter. Initial tolling fees and revenues from these initial volumes are forecasted to exceed $29 million annually, with significant expansion potential based on domestic demand.
ReElement has recently completed a successful pilot refining program of the antimony stibnite ore feedstock at its Noblesville, Indiana facility with positive yield and purity of at least 99.7% pure Antimony(iii) sulfide. In addition to its current processing capacity at its Noblesville facility, ReElement is currently scaling up its refining capacity at its Marion, (Indiana) supersite where it will deploy a separate product circuit for high-purity antimony, alongside it's rare earth oxides and battery minerals (lithium, cobalt, nickel) refinement and purification lines.
Mark Jensen, CEO of American Resources Corporation and ReElement Technologies Corporation commented, "ReElement is a midstream refiner and purifier of separate elements, showcasing the versatility, flexibility and scalability of our world-class refining capabilities. We have established ourselves as one of the only commercially viable refiners of dysprosium oxide (a heavy rare earth) in the United States, and now we have proven our leadership as one of the very few, if not the only, producers of Antimony(iii) sulfide. This critical material is essential for munitions manufacturing and other specialized applications in both defense and commercial markets. Various private and public sector stakeholders approached us to evaluate whether our propriety and patented refinement process at ReElement could successfully and efficiently process and purify antimony. Over the past few weeks, we have proven that not only can we produce high-purity antimony for industry and government use, but we can do so economically within the United States."
Mark Jensen added, "There is no shortage of critical mineral feedstocks globally, but there is a significant lack of economically viable refining capacity to convert these feedstocks into usable, high-purity products. At ReElement, our team has dedicated over three years developing specialized flowsheets for refining high-valued elements while also cultivating strong partnerships with feedstock providers to ensure a reliable and responsive supply chain. Recently ReElement has begun receiving and testing samples for Germanium, Yttrium, and other defense-critical elements that are increasingly being restricted or banned by China. We are confident in our ability to bring this capability back at scale to the United States."
Antimony(III) oxide and Antimony(III) sulfide are the most commercially significant compounds of antimony and are found in various ore bodies. In 2023, the global Antimony(III) oxide market was valued at approximately $852 million and is projected to grow at a compound annual growth rate of 4.9% through 2034, reaching an estimated $1.43 billion. Antimony is primarily used in ammunition, missiles, flame retardants, batteries, and solar panels.
On December 3rd, 2024 China announced a ban on exports of the critical minerals such as Gallium, Germanium and Antimony to the United States, following export restrictions on antimony in September, 2024. These critical minerals have widespread roles in military applications, and the ban further escalated trade tensions just a day after Washington D.C.'s latest crackdown on China's semiconductor sector.
The antimony ore partnership is initially commencing at approximately 500 metric tons per month of stibnite ore for processing and refinement at ReElement, with the ability to significantly expand such volumes based on market demand.
About American Resources Corporation
American Resources Corporation is a leader in the critical mineral supply chain, developing innovative solutions both upstream and downstream of the refining process. The company and its affiliates focus on the extraction and processing of metallurgical carbon and iron ore, essential ingredients in steelmaking, as well as critical and rare earth minerals for the electrification market and recycled metals.
Leveraging its affiliation and former parent status of ReElement Technologies Corporation, a leading provider of high-performance refining capacity for rare earth and critical battery elements, American Resources is investing in and developing efficient upstream and downstream critical mineral operations. These operations include mining interests in conventional and unconventional sources, recycling, and manufacturing.
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.
About ReElement Technologies Corporation
ReElement Technologies Corporation, a portfolio company of American Resources Corporation (NASDAQ:AREC), is a leading provider of high-performance refining capacity for rare earth and critical battery elements. Its multi-mineral, multi-feedstock platform technology focuses on the refining of recycled material from rare earth permanent magnets and lithium-ion batteries, concentrated ores and brines, as well as coal-based waste streams and byproducts to create a cost effective and environmentally-safe, circular supply chain. ReElement has developed its innovative and scalable "Powered by ReElement" process which collaboratively utilizes its exclusively licensed intellectual property within its partners' material processing flow sheets to more efficiently support the global supply chain's growing demand for magnet and battery-grade products. For more information visit reelementtech.com or connect with the Company on Facebook, Twitter, and LinkedIn.
Learn more about ReElement Technologies' process and technology here - Video.
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.
Investor Contact:
JTC Team, LLC
Jenene Thomas
(908) 824 - 0775
arec@jtcir.com
Media Inquiries:
Marjorie Weisskohl
703-587-1532
mweisskohl@allseasonspr.com
Company Contact:
Mark LaVerghetta
317-855-9926 ext. 0
investor@americanresourcescorp.com
SOURCE: American Resources Corporation
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