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American Resources says selected as consortium member in contract to assess Northern Appalachian critical and rare earth elements

Published: 10:20 05 May 2021 EDT

American Resources Corporation - American Resources Corporation selected as a consortium member in US Department of Energy contract to assess Northern Appalachian critical and rare earth elements
The grant - Carbon Ore, Rare Earth and Critical Minerals Initiatives for US Basins - will assess and catalog Northern Appalachian sources of REEs and critical minerals from waste streams

American Resources Corporation (NASDAQ:AREC) said it has been selected in a US Department of Energy National Energy Technical Laboratory (NETL) contract as a consortium member to assess Northern Appalachian critical and rare earth elements (REE).  

Specifically, the Consortium to Assess Northern Appalachia Resource Yield (CANARY) is led by Penn State and includes American Resources. The award targets REE and critical mineral recoveries from waste streams.

The company said the grant -- Carbon Ore, Rare Earth and Critical Minerals (CORE-CM) Initiatives for US Basins -- will assess and catalog Northern Appalachian sources of REEs and critical minerals, assess and develop strategies used to recover REEs and critical minerals, assess the infrastructure, industries, and businesses to determine supply chain gaps, and formulate plans to establish Technology Innovation Centers. 

READ: American Resources reports progress with its fly ash sampling program

The CANARY of CORE-CM proposed by Penn State and its partners will be under the direction of Dr Sarma Pisupati, director of Penn State’s Center for Critical Minerals.

“Penn State has been a great partner for us as we continue to create innovative ways to capture, process and purify critical and rare earth elements from coal-based waste and byproducts,” said American Resources CEO Mark Jensen in a statement.

“We are honored to join this consortium with Penn State, and its other members, and to further our existing partnership. As a regional leader in the innovation of rare earth element production, one of the largest owners of mining infrastructure in the Appalachian region and control of over 21,000 surface acres, we are confident we can bring a lot of value to the consortium and are committed to supporting it to enlighten stakeholders on how this region can contribute in a very meaningful way in restoring the domestic supply chain of these critical resources that are essential to creating a cleaner and greener economy. 

Jensen added: “Furthermore, producing these critical resources from coal waste streams and byproducts enables us to be low cost and environmentally friendly, which is necessary, in our view, to gain and sustain global competitiveness.”

American Resources, to date, has acquired 16 patents and technologies specific to producing REEs and critical minerals from coal-based waste and byproducts as well as waste permanent magnets and lithium-ion batteries. Their “Capture–Process –Purify” process chain is focused on these specific feedstocks to create a highly sustainable and environmentally friendly supply source of these critical resources. 

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

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