American Resources Commences Planning and Development on Next Two Coal Mines in Kentucky
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American Resources Corporation, after a successful staffing and starting its Carnegie 2 mine, has commenced planning and development on its next two carbon mines in Pike County, Kentucky to supply its McCoy Elkhorn complex with additional low cost high quality metallurgical carbon for the global steel industry.
“Over the last seven years we have acquired, restructured, and repositioned our extensive asset base enabling our carbon platform to deliver substantial organic growth that require low capital investment. With more than 40 existing mining permits, five processing and logistics hubs, substantial remaining mine life, and a high margin profile, our platform is a unique source of growth within our industry. Our team has dedicated substantial time and energy over the years to fully restructuring and repositioning these complexes to substantially streamline the facilities, their operations and our corporate overhead to enable a low cost structure and sustainable jobs for the community,” said Tarlis Thompson, COO of American Resources.
“Today these assets are in a position to unlock the value and take advantage of the strong global demand for carbon over the next few decades. Having these assets in place positions our platform as one of the few that can organically expand production to feed the demand especially while older mines in our region are coming to end of life,” added Thompson.
McCoy Elkhorn Complex was formerly a complex owned and ran by James River Coal as one of their premier facilities. The complex is one of the last high-quality, long-life mining facilities in the market and in the region. The hub and spoke facility is centered around two state of the art processing plants (800 tph and 500 tph) and a 110 car unit train rail load out facility and two fully approved and permitted impoundments that can process north of 6 million tons of carbon per year. Post the start of the next two mines, the company will begin the planning of the next phase of organic growth from the McCoy Elkhorn complex. Internally, the company is focused on organically expanding production to 1.5 million to 2 million tons per year.
American Resources continues to focus on running efficient streamlined operations in being a new-aged supplier of raw materials to the infrastructure and electrification marketplace in the most sustainable of ways, while also helping the world achieve its goals of carbon neutrality. By operating with low or no legacy costs and having one of the largest and most innovative growth pipelines in the industry, American Resources Corporation works to maximize value for its investors by positioning its large asset base to best fit a new-aged economy, while being able to scale its operations to meet the growth of the markets it serves.
About American Resources Corporation
American Resources Corporation is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market. The company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking, critical and rare earth minerals for the electrification market, and reprocessed metal to be recycled. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon and rare earth mineral deposits are concentrated.
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.
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