The bridge section, once completed, will add approximately $2.25 to $3.5 million per month of additional revenue.
FISHERMEN, IN / ACCESS CABLE / July 29, 2022 / American Resources Corporation (NASDAQ:AREC) (“American Resources” or the “Company”), a socially responsible, next-generation provider of rare earths and critical elements, carbon, and advanced carbon materials for the new infrastructure and electrification market, announced today that it is developing its second section. which will operate as a continuous haul bridge section, which upon completion is expected to add $2.25 to $3.5 million per month of revenue at current market prices.
Mark Jensen, CEO of American Resources, commented, “Our Carnegie series of mines and the McCoy Elkhorn complex are important contributors to our revenue, cash flow and future growth. Carnegie 1 is a very young mine where we have advanced to the point in the resource seam where we can expand our mine plan by adding additional sections and further reduce the overall cost structure and increase throughput. Given our broad base of equipment and assets that we already own, we are able to bring this section of the bridge online with very little CAPEX and it highlights the flexibility and growth attributes of our mining platform. Expanding an existing mine using owned equipment is the highest margin method of growth in today’s market environment as it does not require the same labor, energy or equipment costs to expand an existing mine compared to starting a new one. mine, which makes it a very enriching opportunity for the Company.”
The company’s Carnegie 1 team is currently setting up the ventilation needed to start the additional bridge section that is anticipated to begin production in the next 60 to 90 days. The Carnegie 1 mine produces high-volume metallurgical carbon that is not burned for energy use. Instead, the specific characteristics allow it to be mixed with iron to make new steel. This quality of product is in high demand in the current market environment given global infrastructure growth coupled with persistent supply constraints as many producers in the US are producing in old mines that are expensive to operate and that are nearing the end of their useful life. American Resources focuses on mining plans and operations that are designed to be low cost with mine life ranging from 20 to 40+ years, while making them safer and more productive.
American Resources continues to focus on running efficient streamlined operations to be a new-age supplier of raw materials to the infrastructure and electrification market in the most sustainable way, while helping the world achieve its carbon neutrality goals. Operating with little or no legacy costs and having one of the largest and most innovative growth pipelines in the industry, American Resources Corporation works to maximize value for its investors by positioning its large asset base to best suit an economy in the new era, while remaining able to scale its operations to meet the growth of the markets it serves.
About the American Resources Corporation
American Resources Corporation is a next-generation, environmentally and socially responsible provider of high-quality raw materials for the new infrastructure market. The Company is focused on the extraction and processing of metallurgical coal, an essential ingredient used in the manufacture of steel, critical and rare earth minerals for the electrification market, and reprocessed metal for recycling. American Resources has a growing portfolio of operations located in the central Appalachian Basin of eastern Kentucky and southern West Virginia, where premium metallurgical carbon and rare earth mineral deposits are concentrated.
American Resources has established a growth-focused, low-cost, agile business model that provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure and electrification markets while continuing to acquire operations and significantly reducing legacy risks. the industry. Its streamlined and efficient operations can maximize margins while lowering costs. For more information visit americanresourcescorp.com or connect with the Company at Facebook, TwitterY LinkedIn.
About American Rare Earth LLC
American Rare Earth is redefining how critical and rare earth elements are sourced and processed while focusing on recycling end-of-life products such as rare earth permanent magnets and lithium-ion batteries, as well as waste streams. and carbon-based by-products. to create a low-cost and environmentally safe circular supply chain. American Rare Earth has developed its innovative and scalable “Capture-Process-Purify” process chain along with its licensed intellectual property including 16 patents and technologies and sponsored research partnerships with three leading universities to support the growing demand for magnets and batteries. of the national supply chain. rails. For more information visit arareearthcorp.com or connect with the Company at Facebook, TwitterY LinkedIn.
Special note about forward-looking statements
East Press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results, performance or achievements to differ. Company or industry results may differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond the control of American Resources Corporation. The words “believes”, “may”, “will”, “should”, “could”, “will”, “seeks”, “anticipates”, “plans”, “expects”, “intends”, “estimates” or Similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statement included in this Press release are made only as of the date of this release. The Company undertakes no obligation to update or supplement any forward-looking statement to reflect subsequent events or circumstances. The Company cannot assure you that projected results or events will be achieved.
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FONT: American Resources Corporation
See source version at access cable.com:
https://www.accesswire.com/710242/American-Resources-Corporations-Carnegie-1-Mine-Set-to-Double-Metallurgical-Carbon-Production-with-Development-of-Bridge-Section