Benzinga | Sep 17, 2020 08:32AM EDT

American Resources Corporation Commences Railcar And Metal Recycling Service Partnership

* Through wholly owned subsidiary, American Metals LLC, the Company is able to further clean up the environment by processing retired coal railcars to be recycled

* Partnership enables company to generate revenue and create further diversification for stakeholders

* Company is poised to be one of the fastest growing U.S. suppliers of raw materials to serve long-term steel markets driven by global infrastructure demand

FISHERS, IN / ACCESSWIRE / September 17, 2020 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a supplier of raw materials to the rapidly growing global infrastructure marketplace, today announced that, in conjunction with a third-party metal aggregating and processing company, it has begun receiving and processing retired coal railcars to be recycled for their metal content and reused for alternative, modern-day purposes. American Metals LLC's partnership provides for the allocation and processing of the decommissioned railcars, and the Company is initially utilizing certain areas of its Indiana property, including its rail spur, for storing and staging areas for the railcars to be processed and ultimately transported to be recycled.

Mark Jensen, Chairman and CEO of American Resources Corporation commented, "As an important part of our overall strategy of being a leading supplier of raw materials to the growing global infrastructure space, we continue to find ways to expand our metal recovery business. Our innovation provides us with various ways of maximizing the value of our assets, and our goal of broadening the raw material products we can offer our valued customer base. By leveraging our American Metals subsidiary and continuing to buildout our business lines in forward-looking industries that supply the infrastructure market, we believe we have the ability to not only expand our revenue but also create further diversification for our shareholders."

The Indiana property is a decommissioned thermal coal mine located in Greene County, Indiana that is currently undergoing a complete environmental reclamation and remediation. It once served as a baseload supplier of thermal coal to a regional utility provider however, with the transition away from coal-based fuels, it became an unviable mine. Given its centralized location among various coal fields and regional steel mills, it has proven to be ideal for an aggregation and processing location for the railcars to be recycled and reused in the steel markets.

American Resources is keen on efficiently and effectively utilizing all asset bases to supply customers in the steel industry with raw materials to manufacture steel products in the most sustainable way while focusing on building out its full suite of infrastructure related business lines. The Company is committed to continuing its efforts to identify operational efficiencies in its ongoing goal to be one of the lowest cost operators and responsible stewards of the environment in Central Appalachia and throughout all its mining, processing, and transportation operations.