AREC - American Resources moves forward on Indiana rare earth plant

American Resources (NASDAQ:AREC) said on Tuesday it completed the first phase of commissioning of its critical and rare earth element isolation and purification facility in Indiana, allowing the company to move to preparing chromatography columns for initial production. The company estimates having its battery material production line, with the ability to purify individual battery elements, completed by the end of Q3. American Resources (AREC) said it forecasts scaling its initial facility and phase two facility over the next five years to process more than five tons of magnet grade material per day. The company said the first production train will recycle end-of-life rare earth magnets to produce magnet-grade neodymium, praseodymium and dysprosium at 99.5%+ purity, while the second production train will recycle black mass from end-of-life lithium-ion batteries producing high-purity, battery-grade lithium, cobalt, manganese, nickel and graphite. American Resources (AREC) recently reported a Q1 GAAP loss of $0.04/share on revenues

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American Resources moves forward on Indiana rare earth plant