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American Resources expands subsidiary American Metals and selects its Deane Mining facility in Kentucky to process metals

The company will aggregate, process and transport used steel to be recycled and sold to traditional and electric arc furnace steel production facilities 

American Resources Corporation - American Resources Corporatexpands wholly owned subsidiary American Metals LLC and selects its Deane Mining facility in Kentucky as its initial rail load out and logistics location for processed metals
With operations in eastern Kentucky and West Virginia, the Indiana company extracts, processes, and sells metallurgical carbon to the steel industry

American Resources Corporation (NASDAQ:AREC) announced Wednesday the expansion of its wholly owned subsidiary American Metals LLC.  

In addition, the company said it has selected its Deane Mining facility in Letcher County, Kentucky as its initial rail load out and logistics location for processed metals.

American Metals said it is expanding its current metal recovery business and will aggregate, process and transport used steel to be recycled and sold to traditional and electric arc furnace steel production facilities. 

READ: American Resources gears up to restart metallurgical carbon mining and processing at restructured Perry County Resources

The company said it is committed to maximizing the value in everything it does and will utilize the existing infrastructure at its Deane Mining facility which provides excellent access and capabilities, including logistics, a skilled workforce and the ability to haul and aggregate metal from a wide range of locations.

"We are thrilled to have the opportunity to leverage the existing capabilities of our already owned assets to efficiently expand our business and solidify our position as a leading supplier of raw materials to the growing global infrastructure market," said Tom Sauve, president of American Resources, in a statement.

"Along with a growing revenue line for the company and diversifying our business, American Metals helps us to achieve two other important corporate initiatives, 1) bettering the environment and 2) expanding our services that we can offer our customer base. A primary source of used steel recovery will come from decommissioned thermal coal mining operations in the region and will assist in land reclamation efforts."

The company said it is keen on efficiently and effectively utilizing all asset bases to supply customers in the steel industry with raw materials to manufacture steel products in the most sustainable way while focusing on building out its full suite of infrastructure-related business lines. 

Deane Mining facility

American Resources said it is slightly refining the staging and processing area at Deane Mining to accommodate greater volumes of metal and is currently working to expand and/or relocate its fleet of equipment to be used in the processing and loading process. 

The company is also putting in place all necessary procedures and approvals needed with CSX Transportation to bring the site into operation in short order.

"The selection of our Deane Mining facility to be the initial location of American Metals was a no-brainer for us,” Sauve said.

“Deane Mining is centrally located to large sources of used steel, including many decommissioned thermal coal mining operations and has access to our first-class rail facility which will streamline logistics. We also have access to a large, skilled workforce in the area who have been displaced by the decline in the thermal coal industry.”

With operations in eastern Kentucky and West Virginia, the Indiana-based company extracts, processes, and sells metallurgical carbon to the steel industry.

Contact the author: [email protected]

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Price: 1.27 USD

NASDAQ:AREC
Market: NASDAQ
Market Cap: $33.34 m
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