FISHERS, IN / ACCESSWIRE / August 2, 2018 / American Resources Corporation (OTCQB: AREC), through its wholly owned subsidiaries Quest Energy Inc. and McCoy Elkhorn Coal LLC, is pleased to announce it has entered into a coal processing and transloading agreement with a global energy and commodity trading company. Under the agreement, American Resources will provide third-party coal processing, storage, and rail loading services at one of its two processing facilities located at the Bevins Branch coal processing complex located in Pike County, Kentucky. The two processing facilities at McCoy Elkhorn Coal are Bevins 1, an 800 ton-per-hour modern coal wash plant, and Bevins 2, a 500 ton-per-hour modern coal wash plant.
"We are always looking for strong partnerships to help support our growth and at the same time enhance profitability", stated Mark Jensen, Chief Executive Officer at American Resources Corporation. "Having the ability to utilize our large infrastructure base to process third-party coal not only demonstrates our growth capabilities, but it allows us to increase our efficiencies at the complex, thereby reducing the overall processing cost for all coal processed at the facility, as well as enhancing margins and strengthen our operating position in the Central Appalachian Basin (CAPP)".
The coal processing and transloading agreement is part of American Resources Corporation's underlying strategy of being one of the lowest-cost producers in CAPP by increasing operational efficiencies through utilizing the company's expansive, existing infrastructure with contracts such as this one. Furthermore, American Resources may potentially expand this relationship to include additional accretive business.
American Resources Corporation continues to focus on its growth objective by efficiently leveraging its 35 core mining permits and through identifying strategic, supplemental acquisitions. The company is committed to being one of the lowest cost operators in CAPP and throughout all its coal mining, processing, and transportation operations.
About American Resources Corporation
American Resources Corporation is engaged in diversified energy services including mining, processing and logistics, with a primary focus on traditional energy sources such as coal and oil and gas. American Resources Corporation plans to expand its business by continuing to develop its currently leased properties and further expanding its processing and logistics business, and through the pursuit of strategic acquisitions.
Mark LaVerghetta, Vice President of Corporate Finance and Communications [email protected]
Special Note Regarding Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to 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 the Company. The words "believes", "may", "will", "should", "would", "could", "continue", "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 statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.
SOURCE: American Resources Corporation