American Resources funds initial shipments of lithium ores

American Resources, as previously announced, has entered into an offtake from its South African partners and has funded and commenced the initial shipment of lithium spodumene to the United States for refining, with a goal of having refining capacity in the United States as well as large scale capacity throughout Africa. The Company is in site selection for its initial South African refining facility and has also narrowed down its U.S. based site selection for lithium refining capacity of 120,000 metric tons per year to four states. The initial locations chosen for site selections in the United States are at locations controlled by the Company or its partners. As previously stated, American Resources and its subsidiaries are collaborating with its South African partners on the site selection for a future African refining facility that will be located at or close to regional ports. This facility will process a majority of the materials from South Africa to significantly reduce the costs and carbon footprint associated with transporting unrefined lithium ores and will also add value to the local African communities by bringing new, cutting-edge technologies to the region. The facility is anticipated to process lithium spodumene ores in a manner that yields ultra-pure, battery-grade lithium carbonate or hydroxide, which can then be used as a commercial grade feedstock for either domestic battery manufacturers in the United States or local battery production in the area.