American Resources’ ReElement enters agreement with Continental Lithium

American Resources announced that its wholly-owned subsidiary, ReElement Technologies entered into a memorandum of understanding with Continental Lithium to begin trial shipments of lithium spodumene ore to ReElement Technologies’ Noblesville, Indiana facility to refine into high-purity lithium carbonate or lithium hydroxide using the Company’s patented and revolutionary multi-mode chromatography technology. Post initial material testing, the parties intend to work towards jointly developing a ReElement lithium refinement facility in Nigeria to locally process and purify lithium spodumene. The initial trials will consist of 28 metric ton increments of 5% to 8% grade lithium spodumene concentrate that is produced at Continental Lithium’s Nigerian mines and shipped to Noblesville, Indiana to be processed through ReElement’s facility to a 99.9% or greater, ultra-high pure lithium carbonate. ReElement will sell the purified lithium carbonate or lithium hydroxide into the domestic battery manufacturing marketplace. The MOU outlines this supply of spodumene as well as the steps of jointly building and operating a ReElement Technologies lithium refining facility in Africa that is centrally located around Continental Lithium’s spodumene mines, which will result in reduced transportation costs, creation of high-quality jobs, and reduction in the environmental footprint of the lithium production life cycle. The lithium refined at the facility will be solid either locally or into the United States domestic battery industry.