Published: January 4, 2023 |

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American Resources Corporation said it has executed its second rare earth oxide offtake agreement with Advanced Magnet Lab (AML) to provide AML high-purity raw rare earth elemental feedstock for its advanced, domestic magnet production.

The company noted that concurrent with the offtake agreement, it has completed an initial strategic investment into AML to further advance the technology and commercialization.

American Resources said it led the round of investment into AML alongside a select number of strategic investors and insiders, and the investment is in the form of a promissory note that has the ability to convert into shares of AML at a fixed valuation.

It noted that AML has developed PM-Wire, a unique technology for the design, manufacture and optimized performance of permanent magnets and their end-use applications. 

American Resources CEO Mark Jensen noted that the company was confident that AML possessed several unique and innovative methods of producing better, more efficient magnets using both rare earth elements and other materials.

“We are very excited to not only have AML be our second offtake partnership for our high purity (greater than 99.5 percent) rare earth oxides that we produce using our patented chromatography technology but to also be able to be an investor in their innovative company,” Jensen said in a statement.

“With this partnership, similar to our partnership with USA Rare Earth Magnets, we are collectively creating a domestic and sustainable permanent magnet production supply chain,” Jensen added.

American Resources is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market.

Source: Proactive Investors

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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