American Resources Corporation's Subsidiary, ReElement Technologies Corporation, Partners With TECHGULF Ghana; Facility Will Be Built With Initial Refining Capacity To Produce 30,000 Metric Tons Of Battery-Cell-Grade Lithium Carbonate Per Year
Portfolio Pulse from Benzinga Newsdesk
American Resources Corporation's subsidiary, ReElement Technologies Corporation, has partnered with TECHGULF Ghana to build Africa's first lithium processing and refining plant in Ghana. The facility will have an initial capacity to produce 30,000 metric tons of battery-cell-grade lithium carbonate annually. This partnership aims to support sustainable energy solutions, economic development, and the electric vehicle sector in Africa. The project will also focus on workforce skill development and technological innovation through a pilot training facility in collaboration with the University of Mines and Technology.
December 11, 2023 | 1:27 pm
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American Resources Corporation, through its subsidiary ReElement Technologies, is entering a partnership with TECHGULF Ghana to establish a lithium processing plant in Ghana, with a significant initial production capacity aimed at the EV market.
The news of American Resources Corporation's subsidiary, ReElement Technologies, partnering to build a lithium processing plant in Ghana is likely to be viewed positively by investors. The project aligns with the growing demand for lithium, which is essential for electric vehicle batteries, and positions AREC in a strategic spot within the critical minerals and EV supply chain. The announcement could lead to increased investor confidence in AREC's growth prospects and sustainability initiatives, potentially driving the stock price up in the short term.
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