ReElement Technologies Corporation Enters Into Purified Rare Earth Oxide Sales Agreement With USA Rare Earth LLC
Portfolio Pulse from Benzinga Newsdesk
American Resources Corporation's subsidiary, ReElement Technologies, has signed a sales agreement with USA Rare Earth LLC for the production and sale of ultra-pure rare earth oxides. The agreement, starting in 2025, will eventually lead to over $65 million in annual revenue by 2028 from the sale of over 900 metric tons of high purity oxides annually. This partnership aims to support the domestic production of permanent magnets and contribute to the U.S. supply chain for rare earth and critical battery elements, utilizing ReElement's patented, environmentally friendly technology.
March 04, 2024 | 1:41 pm
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American Resources Corporation, through its subsidiary ReElement Technologies, has entered into a significant sales agreement with USA Rare Earth LLC. This deal, focusing on the production and sale of ultra-pure rare earth oxides, is set to generate over $65 million in annual revenue by 2028, marking a substantial step towards enhancing the domestic supply chain for rare earth and critical battery elements.
The agreement between ReElement Technologies and USA Rare Earth LLC is directly related to American Resources Corporation's business and future revenue prospects. Given the scale of the deal and its potential to significantly impact the company's financials and strategic position in the rare earth market, it is highly relevant and important for investors. The positive nature of this news, highlighting growth and expansion, suggests a likely positive short-term impact on AREC's stock price.
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