New purchase order for specialty carbon will be shipped into the international marketplace for specialty fabrication and alloy metal production
Company's expanded carbon production for Q2 2022 is providing customers with needed supply growth while realizing record prices from its facilities for specialty stoker carbon
FISHERS, IN / ACCESSWIRE / April 4, 2022 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially responsible supplier of rare earth and critical elements, carbon and advanced carbon materials to the new infrastructure and electrification marketplace, today announced that it has expanded its sales commitments for a portion of its specialty carbon stoker products for the second quarter of 2022 by approximately 15,000 tons at a record average price realization in the mid $200 per ton.
Tom Sauve, President of American Resources Corporation commented, "Our ability to secure this business for the specialty carbon markets is a testament to the quality of our operations and efforts of our team to identify top-quality assets and position the Company to be the strongest producer in our region. We are continuing to ramp up production at an attractive time to capitalize on the strength in the steel making and specialty carbon markets. During recent customer visits, we were able to showcase the restructuring of our mining complex's which have positioned us to provide strong and growing production, highly specific processing capabilities and inventory, giving them comfort of our ability to deliver for them and at the same time, deliver for our shareholders. To our knowledge, this is the highest price of carbon that has ever been sold from our facilities."
Specialty stoker is a specific sized carbon product that is processed to a very low ash content for a variety of commercial uses. American Resources' specialty carbon stoker, given its specific properties, is expected to meet the demand of the global silicon, ferrosilicon and microsilica marketplace for various industrial and technological applications. This specialized stoker product is able to be produced from either of the Company's Perry County Resources or McCoy Elkhorn operations in eastern Kentucky due to the quality of carbon produced and the capabilities of their processing facilities.
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.
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SOURCE: American Resources Corporation
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