American Resources Secures $33 Million to Accelerate REE Recovery from Coal Waste
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American Resources Corporation has closed a $33 million common stock-only PIPE transaction with nameplate investors to accelerate the commercialization of its rare earth element (REE) recovery strategy from already-mined coal waste resources, positioning the company to unlock what is effectively the largest rare earth mine in the United States.
“This PIPE financing provides the capital needed to commercialize and scale this model at a time when securing domestic supply chains for critical minerals is not only a commercial opportunity for American Resources and its holding company ReElement Technologies, but a national imperative,” said Mark Jensen, chairman and CEO of American Resources.
Through its affiliation with ReElement Technologies, American Resources has validated the ability to extract and concentrate rare earth elements — including neodymium (Nd), praseodymium (Pr), dysprosium (Dy), terbium (Tb) gadolinium (Gd), and yttrium (Y) — from coal waste deposits exceeding 120 million tons of controlled deposits across Kentucky and West Virginia.
These already-mined resources are fully permitted and supported by existing logistics infrastructure, enabling the fastest speed-to-market and lowest cost of production of high-value rare earth elements in the U.S.
“Coal once powered America’s steel industry and energy independence — now, it can power the next generation of critical mineral independence,” said Jensen.
“By leveraging ReElement Technologies’ advanced refining platform, we are turning legacy coal waste into a high-value domestic source of rare earth concentrates and feedstock for permanent magnets, advanced technologies and critical defense applications — all while remediating the environment, accelerating American mineral independence and creating much-needed regional jobs,” added Jensen.
American Resources will initially focus on deploying processing capacity across its owned and controlled critical and rare earth element deposits to produce a mixed REE concentrate product to feed into ReElement Technologies’ advanced separation and purification refining platform. Subsequently, the company plans to extend services to coal industry partners — transforming liabilities into economic assets while driving sustainable regional growth and workforce alignment.
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.
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