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FISHERS, Indiana - ReElement Technologies Corporation, a portfolio company of American Resources Corporation (NASDAQ:AREC), announced Friday a 141% expansion of its Noblesville critical mineral refining facility, increasing its footprint to over 16,500 square feet. The announcement comes as AREC’s stock has shown remarkable momentum, with InvestingPro data showing a 401% return over the past six months, though the company currently appears overvalued based on Fair Value analysis.
The expanded facility will provide near-term refining capacity of more than 200 metric tons annually of ultra-pure separated defense elements and rare earth oxides with purities ranging from 99.9% to 99.999%, according to a company press release.
The expansion enables ReElement to produce critical defense minerals including yttrium, germanium, gadolinium, gallium, terbium, samarium, dysprosium, and antimony, as well as magnet elements neodymium and praseodymium.
ReElement has received nine additional separation columns for expanded production in Noblesville, along with other equipment including an ICP-MS machine for quality control. The company stated it is executing this expansion while maintaining daily operations at the facility.
In parallel, ReElement reported it has ordered, identified, or begun installing more than 60% of the equipment for its Marion Supersite’s initial contracted growth phase, which is being developed to provide large-scale refining capacity.
"This expansion showcases the flexibility and scalability of our refining platform and positions us to lead in meeting the growing yet complex demands of both the defense and commercial markets," said Jeff Peterson, COO of ReElement Technologies, in the press release.
ReElement’s refining process utilizes chromatography methods to achieve high-purity oxides essential for metallization and magnet production. The company claims its process offers greater efficiency and less waste than traditional methods.
In other recent news, ReElement Technologies, a portfolio company of American Resources Corporation, has been active with several significant developments. The company secured a $20 million equipment leasing facility from Maxus Capital Group, which will fund equipment purchases to expand production of rare earth oxides, lithium carbonate, and defense minerals at its facilities in Indiana. Additionally, the Department of Defense awarded ReElement $2 million to enhance domestic rare earth element refining capabilities, aiming to strengthen the industrial base for these critical minerals in the United States.
ReElement Technologies has also signed a memorandum of understanding with POSCO International to establish an integrated rare earth and permanent magnet production complex in the U.S., marking a significant step towards full vertical integration in this sector. The company’s strategic moves include joining the Consortium for Rare Earth Technologies through a partnership with Advanced Technology International. Meanwhile, American Resources Corporation, which holds a 19% stake in ReElement Technologies, received a Buy rating from D. Boral Capital, with a price target of $6.00, highlighting the strategic importance of its holdings in critical mineral refining and metallurgical coal.
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