American Resources’ American Carbon provides updated rare earth analysis

American Resources announced updated results of its rare earth deposits at its Wyoming County Coal project in West Virginia with over 550 ppm as verified from an independent third-party laboratory. The ongoing project development is being funded by the Company’s previously announced $45 million tax exempt bond. Tarlis Thompson, CEO of American Carbon Corporation commented, “Our team has laid the foundation for this project as one of the largest, low cost, mid vol metallurgical carbon facilities with inherent high-grade rare earth and critical mineral concentration. Extraction of rare earth minerals from nontraditional sources are extremely challenging to make economical as a standalone business. However, integrating it within a premium mid vol met carbon operation utilizing byproduct economics and innovative technology changes the cost structure for it to be viable. Our focus on building concentration facilities alongside profitable metallurgical carbon extraction and processing operations enables us to significantly lower costs and utilize byproduct economics to unlock the value of traditional wasted material. We are extremely excited to share that the analysis conducted from this site exceeds 550 ppm. As we push forward on this exciting project, we are also looking to further expand our footprint in West Virginia to replicate our efficient model to extract metallurgical coal and concentrate rare earth minerals as a byproduct to feed into our ReElement Technologies division for the final separation purification and refinement step.”