leadf
logo-loader
viewAmerican Resources Corporation

American Resources says subsidiary American Metals processing retired coal railcars for recycling

American Metals has entered into a partnership with a third-party metal aggregating and processing company to provide for the allocation and processing of the decommissioned railcars

American Resources Corporation - American Resources Corporation says subsidiary American Metals LLC has started processing retired coal railcars to be recycled for metal content and reused for modern-day purposes
American Resources is initially utilizing certain areas of its Indiana property for storing and staging areas for the railcars

American Resources Corporation (NASDAQ:AREC) announced Thursday that it has started processing retired coal railcars to be recycled for metal content and reused for alternative, modern-day purposes. 

Its subsidiary American Metals LLC has entered into a partnership with a third-party metal aggregating and processing company to provide for the allocation and processing of the decommissioned railcars.

American Resources said it is initially utilizing certain areas of its Indiana property, including its rail spur, for storing and staging areas for the railcars to be processed and ultimately transported to be recycled.

READ: American Resources lowers environmental liabilities, earns $400K in reclamation bonds

"As an important part of our overall strategy of being a leading supplier of raw materials to the growing global infrastructure space, we continue to find ways to expand our metal recovery business,” said American Resources CEO Mark Jensen in a statement.

“Our innovation provides us with various ways of maximizing the value of our assets, and our goal of broadening the raw material products we can offer our valued customer base. By leveraging our American Metals subsidiary and continuing to buildout our business lines in forward-looking industries that supply the infrastructure market, we believe we have the ability to not only expand our revenue but also create further diversification for our shareholders."

The Indiana property is a decommissioned thermal coal mine located in Greene County, Indiana that is currently undergoing a complete environmental reclamation and remediation. It once served as a baseload supplier of thermal coal to a regional utility provider however, with the transition away from coal-based fuels, it became an unviable mine. 

Given its centralized location among various coal fields and regional steel mills, it has proven to be ideal for an aggregation and processing location for the railcars to be recycled and reused in the steel markets.

American Resources 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. 

The company added that it is committed to continuing its efforts to identify operational efficiencies in its ongoing goal to be one of the lowest cost operators and responsible stewards of the environment in Central Appalachia and throughout all its mining, processing, and transportation operations.

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

Quick facts: American Resources Corporation

Price: 1.54 USD

NASDAQ:AREC
Market: NASDAQ
Market Cap: $57.15 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of American Resources Corporation named herein, including the promotion by the Company of American Resources Corporation in any Content on the...

FOR OUR FULL DISCLAIMER CLICK HERE

American Resources expanding workforce as it re-starts its Perry County...

American Resources Corporation (NASDAQ:AREC) CEO Mark Jensen tells Proactive group is re-starting and expanding its workforce at its Perry County Resources mining complex in Hazard, Kentucky. Jensen says the group is expanding the workforce there to roughly 76 underground mine and 16...

1 week, 2 days ago

2 min read