American Resources Corporation Enters Into Long Term Lithium Spodumene Purchase Agreement In South Africa
Portfolio Pulse from Benzinga Newsdesk
American Resources Corporation (NASDAQ: AREC) has entered into a long-term lithium spodumene purchase agreement in South Africa. The initial phase will procure 5,000 metric tons of lithium spodumene ore per month, with a later phase expected to increase to over 20,000 metric tons per month. The company will use its patented ReElement refining technology to produce ultra-pure lithium carbonate or hydroxide.
June 07, 2023 | 12:33 pm
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American Resources Corporation enters into a long-term lithium spodumene purchase agreement in South Africa, which will increase its lithium supply and leverage its patented ReElement refining technology.
The long-term lithium spodumene purchase agreement will provide American Resources Corporation with a secure supply of lithium spodumene ores, which will be refined using its patented ReElement refining technology. This will increase the company's lithium supply and potentially lead to increased revenues. The news is highly relevant and important for investors in AREC, and the likelihood of a positive short-term impact on the stock price is high.
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