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American Resources Corporation Increases Equipment Fleet at Carnegie #1 Mine to Double Production Expansion

Company delivers second Joy 14cm15 continuous miner to expand production by 5,000 to 10,000 tons per month

FISHERS, IN / ACCESSWIRE / March 10, 2022 / 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 it has added to its fleet of equipment at its Carnegie #1 mine to double its production of high-quality metallurgical carbon to meet the strong demand of the current and future market.

Tarlis Thompson, COO of American Resources Corporation commented, "Equipment and people are the lifeline of any mining operation. We have built a great team at this operation and now with the delivery of this newly rebuilt continuous miner, the heart of an operation's equipment fleet, it will enable us to increase production and reduce the mine's overall cost structure. The current carbon market, like so many other commodities and industries, is extremely tight while facing supply chain and labor challenges, and prices are certainly reflecting that. We have heard the narrative that the industry's domestic production this year is sold out and we continue to see a supply-demand balance that corroborates that. Given our growth platform to supply the metallurgical carbon market with incremental supply, we are highly focused on our steady and continuous production ramp, and this milestone demonstrates our ability to do just that and we applaud our team for their accomplishments."

The Carnegie #1 mine produces high vol metallurgical carbon for the domestic and international steel industry. Located in Pike County, Kentucky, the Carnegie #1 mine accesses a large boundary of carbon in the Lower Alma seam. American Resources has now successfully delivered a second, fully rebuilt Joy 14CM15 continuous miner which was rebuilt by its internal rebuild shop over that past few months. The Company will utilize the second continuous miner at the Carnegie #1 mine under a modified or "walking" super section mine plan to increase the mine's sellable output to approximately 12,000 - 20,000 tons per month.

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

SOURCE: American Resources Corporation



View source version on accesswire.com:
https://www.accesswire.com/692402/American-Resources-Corporation-Increases-Equipment-Fleet-at-Carnegie-1-Mine-to-Double-Production-Expansion

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