American Resources Corporation (NASDAQ: AREC) stock is thriving in the early trading session today. The stock surged 25.22% to $4.22 in the morning session.
This next-generation company supplies high-quality raw materials to the new infrastructure market that is environmentally and socially responsible. A significant focus of the Company is the extraction and processing of metallurgical carbon, an essential component of steelmaking, along with critical and rare earth minerals for the electrification industry, in addition to reprocessed metal to be recycled. American Resources has several mineral operations in the Central Appalachian basin, located primarily in eastern Kentucky and southern West Virginia. These deposits have premium quality metallurgical carbon and rare earth minerals.
What is the latest Update…
According to American Resources Corporation (NASDAQ: AREC), it licensed ligand assisted displacement chromatography patents and know-how from Hasler Ventures LLC to augment its capability in environmentally friendly separation and purification of rare earth elements. This exclusive patent and technology were developed at Purdue University to separate and purify rare earth metals and critical components from coal byproducts, recycled permanent magnets, and lithium-ion batteries. This agreement will allow American Resources Corporation to establish a domestic supply chain that will provide a new and safer means of delivering critical materials.
Rare earth elements (REE) are the 15 elements in the lanthanide series and scandium and yttrium. These are essential ingredients for high-technology and clean energy applications, such as magnets, metal alloys, polishing powders, catalysts, ceramics, and phosphors. REEs market size is approximately $4 billion and growing at 8% per year.
A few big energy providers have been lagging in embracing these new technologies. Recent events, such as energy price volatility, look to change, leading to outperformance in previously considered niche areas.