- The Company, along with consortium including insiders, acquire strategic mineral reserves and underground main access points
- Reserves would be lowest cost mine life for Perry County complex and ability to control access points for all underground reserves
FISHERS, IN / ACCESSWIRE / October 6, 2021 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially responsible supplier of raw materials to the new infrastructure and electrification marketplace, today announced that it has acquired approximately 2,371 mineral acres including an estimated 10.1 million tons of mineral resources at its Perry County Resources (PCR) complex, alongside a consortium led by insiders and external partners. The acquisition provides American Resources access and security to controlled, long-term, recoverable reserves, the main underground access points for its E4-2 mine, exclusive surface rights related to the PCR complex, a further reduced operating cost structure, and provides future growth potential for a E3-2 mine.
Thomas Sauve, President of American Resources Corporation commented, "Securing control of these reserves and the underground mainline entry points at the Perry County E4-2 mine illustrates our strong desire to protect our workforce and long-term opportunity for our company in the community and region. These mains are the control point to the overwhelming majority of the economically viable mineral within the E4-2 mine and a majority of the near-portal mineral. With a majority of the competing mines in the area having to travel miles underground to access carbon reserves due to end of mine life and lack if invested capital, this strategic reserve base puts us into a very strong position competitively and highlights our recent restructuring efforts of the complex. We acquired the Perry County complex with the goal of making it the premier low-cost steel making carbon mine and this puts us one step closer to hitting that objective alongside the infrastructure improvements we have made to improve efficiencies."
The market environment for steel making carbon is seeing significant strength both domestically and internationally due to global infrastructure demand and constrained, sustainable supply. These market dynamics are coinciding with the Company executing on its expansion plans at its mining complexes. The proven quality of the Company's mines, resources and operational efficiencies of its facilities puts it in a strong competitive position over the coming years. American Resources currently employs over 127 men and women at Perry County and is continually expanding its workforce across all of its operations to drive innovation and meet the demands of the evolving infrastructure and electrification market.
American Resources continues to focus on running efficient streamlined operations in being a new-aged supplier of raw materials to the infrastructure and electrification marketplace in the most sustainable of ways, while also helping the world achieve its goals of carbon neutrality. By operating with low 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 fit a new-aged economy, while being able to scale its operations to meet the growth of the markets it serves.
About American Resources Corporation
American Resources Corporation is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking, critical and rare earth minerals for the electrification market, and reprocessed metal to be recycled. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon and rare earth mineral deposits are concentrated.
American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure and electrification markets while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit americanresourcescorp.com or connect with the Company on Facebook, Twitter, and LinkedIn.
Special Note Regarding Forward-Looking Statements
This 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 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 American Resources Corporation's control. 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.
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SOURCE: American Resources Corporation