American Resources Corp 8-K, filed Oct 5, 2021
American Resources Corp (AREC)
8-K
2021-10-05
For: 2021-10-04
View Original
Added on
April 06, 2026
About this 8-K
American Resources Corp filed this 8-K on October 5, 2021, reporting on events of October 4, 2021.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
WASHINGTON, D.C.
20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date of
Report (Date of Earliest event Reported): October 4,
2021
AMERICAN RESOURCES CORPORATION
(Exact name of registrant as specified in its charter)
|
Florida
(State
or other jurisdiction
of
incorporation)
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000-55456
(Commission
File
Number)
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46-3914127
(I.R.S.
Employer
Identification
No.)
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12115
Visionary Way, Suite 174, Fishers Indiana, 46038
(Address
of principal executive offices)
(317)
855-9926
(Registrant’s
telephone number, including area code)
________________________________________________
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (See: General Instruction
A.2. below):
[
]
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[
]
Soliciting material
pursuant to Rule 14a-12 under the Exchange Act
(17CFR240.14a-12)
[
]
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
(17CFR240.14d-2(b))
[
]
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act
(17CFR240.13e-4(c))
Item 7.01. Regulation FD Disclosure
On
October 4, 2021, American Resources Corporation (or the
“Company”) issued a press release announcing that in
conjunction with its sponsored research partnership with Purdue
University, it has successfully achieved a 99.5% purity of lithium,
nickel and cobalt from recycled NMC batteries sourced from the
manufacturing process of electric vehicles.
The information presented in Item 7.01 of this Current Report on
Form 8-K and Exhibit 99.1 shall not be deemed to be
“filed” for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended (the “Exchange
Act”), or otherwise subject to the liabilities of that
section, unless the Company specifically states that the
information is to be considered “filed” under the
Exchange Act or specifically incorporates it by reference into a
filing under the Securities Act of 1933, as amended, or the
Exchange Act.
A copy
of the press releases are attached as Exhibit 99.1hereto and is
incorporated herein by reference.
Item 9.01.
Financial Statements and
Exhibits.
The
following exhibits are attached hereto and filed
herewith.
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ExhibitNo.
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Description
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99.1
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Press
Release Dated October 4, 2021
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
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American Resources
Corporation
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Date: October 4,
2021
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By:
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/s/
Mark C.
Jensen
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Mark C.
Jensen
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Chief Executive
Officer
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Exhibit 99.1
American Resources Corporation Succeeds in Achieving Greater Than
99.5% Purity of Lithium, Cobalt and Nickel from Recycled Electric
Vehicle Batteries
Recycled critical elements were sourced from NMC batteries used in
EV manufacturing
End-of-life lithium-ion battery marketplace expected to grow at 19%
CAGR through 2030
October 4, 2021 | Source: American Resources
Corporation
FISHERS, INDIANA / ACCESSWIRE / October 4, 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, in conjunction with its sponsored research partnership with
Purdue University, it has successfully achieved a high purity of
lithium, nickel and cobalt from recycled NMC batteries sourced from
the manufacturing process of electric vehicles. The Company
utilized its displacement chromatography technology to achieve the
results from its exclusive licensed and patented
technology.
Mark Jensen, CEO of American Resources Corporation commented,
“Earlier this year we showcased our ability to produce a very
high purity of the rare earth metal neodymium from recycled rare
earth magnets and now with these results, we have showcased how we
can effectively and economically isolate lithium, nickel and cobalt
to be recycled for new battery production. Our technology is unique
in that it utilizes a cost-effective solution for the final stage
of recycling battery metals all the way to the end isolated metals.
The solution is built through multiple stages in a closed loop
system to recover the elements and any other high value metals. The
costs are incurred to isolate the high value metal first than
subsequently recover the lower value metals with minimal additional
operating costs throughout the system.”
With growing attention on the fragile supplies of the battery
metals cobalt and lithium, the Company is primarily focused on the
isolation and purification of both from recycled batteries and/or
black mass produced by third parties, and will also isolate and
purify nickel and manganese in the same process. Over 60% of the
world’s cobalt is produced out of the Democratic Republic of
Congo (“DRC”). DRC has been a leading producer of
cobalt for several years, however cobalt mining in the country has
also been linked to human rights issues. There are an estimated 7
million metric tons of cobalt reserves in the world with over half
based in the DRC. The current market price for cobalt per metric
ton is over $50,000.
Lithium, given its historic price, has typically not been recovered
in the recycling process of lithium-ion batteries. However, with
the projected growth of electric vehicle manufacturing and
larger-scale battery storage, the demand for lithium is expected to
double over the next three years and increase tenfold over the next
decade. Even though supply growth for lithium is expected to nearly
triple by 2025 to approximately 1.5 million metric tons per annum,
it is widely believed that demand will largely outweigh projected
supply with global reserves estimated at only 80 million tons.
Chromatography is unique in that it’s an efficient continuous
closed loop, column-based system that is able to operate at
multiple stages and recover high value components, then
subsequently isolate and recover the supplemental products with
minimal increase in costs. The current market price for lithium
carbonate per metric ton is approximately $25,000.
“The social and environmental benefits of our rare earth and
critical element recycling segment of our business might be the
most exciting component for our Company. Not only are we addressing
domestic supply chain issues but we are also reducing the need for
the mining of these new elements from environmentally and socially
hazardous regions of the world. We believe a sustainable and
circular economy will reduce costs of feedstocks for our future
customer base while also protecting the environment in the process.
We are very thankful for the efforts of our Purdue technology team
on this project, Professor Linda Wang, Yi Ding and Gabriel Perez
Schuster,” continued Mr. Jensen. “What is unique about
our rare earth and critical element division is that we focus on
recycling end-of-life products. As the demand and utilization of
electric vehicles and windmills, etc. continue to increase, so does
our “mine life” or access to feedstocks. Essentially
our reserve base increases year over year as the market continues
to grow. It is our believe that bringing practical, real-life
solutions to the table will bolster a more resilient domestic
supply chain for these increasingly, critical raw materials and
help secure our energy independence. Chromatography and our
technology team is a game changer!”
Under its recently expanded sponsored research program with Purdue
University, the Company is refining and further advancing its
critical and rare earth element purification technology for various
feedstocks which include recycled waste permanent magnets, waste
lithium-ion batteries and coal waste, fly ash and byproducts using
displacement separation and ligand assisted displacement
chromatography. Additionally, the Company has previously
announced site selection for
its first rare earth and critical element recycling facility in
Noblesville, IN which is being developed as a scalable commercial
facility.
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.
PR Contact
Precision
Public Relations
Matt
Sheldon
917-280-7329
matt@precisionpr.co
Investor Contact:
JTC
Team, LLC
Jenene
Thomas
833-475-8247
arec@jtcir.com
RedChip
Companies Inc.
Todd
McKnight
1-800-RED-CHIP
(733-2447)
Info@redchip.com
Company Contact:
Mark
LaVerghetta
Vice
President of Corporate Finance and Communications
317-855-9926
ext. 0
investor@americanresourcescorp.com