American Resources Corporation) (NASDAQ:AREC) today announced that its wholly owned subsidiary, Electrified Materials Corporation, an innovative recycler of metals and minerals, has expanded its pre-processing capabilities through the procurement of additional equipment and processing capacity at its Indiana facility.
The new processing line expands EMCO's ability to aggregate, process and condition magnet materials, copper, aluminum and ferrous metals recovered from end-of-life products and manufacturing scrap. These materials include rare earth element and critical mineral feedstocks that will be conditioned into optimal forms for refining.
Conditioned rare earth and critical mineral materials will be supplied to ReElement Technologies Corporation for advanced separation, purification and refining into ultra-high-purity rare earth oxides (REO), which are then supplied to downstream manufacturing partners supporting electrification, defense and advanced manufacturing markets.
The expansion responds to increasing volumes of recycled feedstocks being received by EMCO and growing market demand for domestically produced high-purity rare earth oxides.
EMCO's near-term expansion is expected to be supported by a private capital raise at the subsidiary level pursuant to Regulation D, as well as previously announced recycling grant initiatives from the State of Indiana. The capital raise is intended to support the continued scaling of EMCO's processing capacity in anticipation of a planned spin-off of Electrified Materials into a stand-alone publicly listed company on a national exchange.
AREC handed over a penny to $3.25.
