American Resources' ReElement Begins Marion, IN Advanced Tech Site for IRA-Compliant Rare Earth, Critical Minerals.

American Resources Corporation's ReElement Technologies has begun setting up its Marion, IN facility to produce ultra-pure rare earth elements and critical minerals for batteries, including lithium, cobalt, and nickel, in compliance with the Inflation Reduction Act. The site is designed to refine both recycled materials and ores, with a focus on scalability and modularity, targeting 5,000 metric tons of lithium carbonate and 1,000 metric tons of rare earth oxides.

American Resources Corporation's (ARC) subsidiary, ReElement Technologies, is making significant progress in setting up its Marion, Indiana facility to refine ultra-pure rare earth elements and critical minerals for batteries [1]. The site, designed to process both recycled materials and concentrated ores, is anticipated to produce 5,000 metric tons of lithium carbonate and 1,000 metric tons of rare earth oxides [1].

ARC's investment in the Marion facility is crucial in reducing the United States' reliance on China for these critical materials, which is particularly important in light of the ongoing rise in demand for high-performance refined elements for the emerging electrification market [1]. This initiative aligns with the Inflation Reduction Act, which aims to boost domestic production of critical minerals and batteries [2].

The Marion site is currently in the initial phase of development, with essential infrastructure, such as power, water, and natural gas, successfully installed [1]. Equipment acquisition is underway, and Phase 1 of production is projected to generate approximately $150 million in revenue based on prevailing market prices [1].

The facility's strategic location will enhance logistics, benefiting from proximity to a variety of industries involved in battery and magnet production [1]. The Marion site is expected to refine materials and support the domestic supply chain for ultra-pure rare earths and battery components, addressing national defense and commercial needs [1].

CEO Mark Jensen emphasized the necessity for domestic refining capacities as crucial for the U.S. defense industry and commercial purposes, underlining the company's commitment to developing this state-of-the-art refining campus in Indiana [1]. The Marion site is poised to be a game-changer in the critical minerals sector, fostering collaboration within the electrified value chain [1].

References:
[1] MarketWireNews. (2023, March 16). American Resources Corporation's Subsidiary ReElement Technologies Advances Development of Marion, IN Facility. https://marketwirenews.com/news-releases/american-resources-corporation-s-subsidiary-reelement-technologies-advances-development-of-marion-in-facility-6970100187705090.html
[2] WhiteHouse.gov. (2022, August 16). Fact Sheet: President Biden's Inflation Reduction Act. https://www.whitehouse.gov/briefing-room/statements-releases/2022/08/16/fact-sheet-president-biden-signs-the-inflation-reduction-act-into-law/