Published: February 21, 2024 |

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American Resources Corporation said its continued focus on proper environmental stewardship through reclamation and remediation of former mining operations has resulted in recent regulatory submissions for environmental bond surety releases on more than 1,170 acres of former coal mining lands. This represents more than $2.8 million in bonding liability that is anticipated to be released by various state regulatory agencies.

With these recent submissions, and after the approvals from state agencies, it will bring the total number of acres of prior impacted coal mining operations that the company has reclaimed or released to more than 8,000 acres from previously acquired impacted lands and stranded mining permits.

“Our business model from day-one is centered around running low cost operations and one of the key ways of achieving this is by continuously working to reduce our environmental liabilities that are tied to the assets that we acquired from previously bankrupt or troubled companies. We couldn’t be more proud of our track record of taking over great assets that were also clouded by the environmental liabilities of their predecessors,” said Tom Sauve, president of American Resources Corporation.

“Through our dedication to properly clean these properties up, we not only reduce our cost structure but also position our assets for better growth and profitability in the future. For far too many companies, the legacy way of managing their mining operations was to prolong and defer those costs to future operators to deal with,” added Sauve.

“We applaud our team which has performed the environmental reclamation work to strengthen our Company and its operations, while being good stewards to the environment and communities in which we operate,” concluded Sauve.

The successful bond release of these associated submissions will bring the company’s total bonds released to more than $25 million in environmental reclamation bonding representing more than 8,000 acres that has been reclaimed and released from the company’s liabilities.

In the coming months, the company anticipates to have an additional 120 acres reclaimed, representing and additional $1.3 million in environmental bonds, in Indiana, and another $1.5 million in reclamation bonds anticipated to be released in Kentucky. With these releases, American Carbon Corporation, the wholly-owned subsidiary of American Resources Corporation focused on the production of high quality metallurgical carbon, continues to better position itself as a long-life mining platform, with a focus on a very low cost structure and sustainable jobs to supply the global steel industry with some of the highest quality carbon in the world.

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. The company 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.

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