American Resources Corporation
Under the Symbol:
American Resources Corporation Expands Coal Processing and Transloading Services Business
Wednesday, October 3, 2018 8:00 AM
FISHERS, IN / ACCESSWIRE / October 3, 2018 / American Resources Corporation (OTCQB: AREC), a diversified energy company focused on the extraction, processing, transportation and selling of coal, is pleased to announce the continued expansion of its coal processing and transloading services business at its McCoy Elkhorn Bevins Preparation Plants and loadout (located in Pike County, Kentucky). The Company has secured a new contract with a new coal customer estimated at adding $60,000 to $96,000 a month in additional revenue at the McCoy Elkhorn Bevins Branch facility.
This expansion comes on the heels of the company signing a contract for processing, storage, and loading of coal for a large international coal consumer earlier this summer. With the lack of efficient, readily-available coal processing and rail loading facilities in Kentucky, American Resources Corporation has seen an increase in interest from other coal producers that lack such infrastructure that cleans the coal for the end-consumer and loads the coal to rail car, both services which are in high demand for coal producers looking to sell a cost-competitive refined product to international and domestic customers due to improving coal markets. "The continued interest from other coal producers looking to utilize our state-of-the-art processing and loading facilities at American Resources is a testament to our premier infrastructure assets in the heart of coal country," stated Tarlis Thompson, Chief Operating Officer of American Resources. "Given our ample capacity at these facilities, we welcome the additional business as a way to expand our revenues and operating margins through greater efficiencies." American Resources Corporation continues to focus on its growth objective by efficiently leveraging its large number of 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 a diversified energy company focused on the extraction, processing, transportation and selling of specialty coal qualities serving the metallurgical, industrial, pulverized coal injection (PCI), and premium thermal coal markets. The company is primarily focused on the Central Appalachian coal basin of eastern Kentucky.
The company's business model is to capitalize on the changing coal markets to redefine how to create efficient coal mining operations to thrive and prosper in an industry that has less scale and production. By adjusting its operations to fit the market, American Resources Corporation is flexible and dynamic to adjust rapidly to expanding and contracting coal markets.
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Anthony D. Altavilla, President
317-569-1617 - Office
317-590-3780 - Cell
Vice President of Corporate Finance and Communications
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