Benzinga | Aug 18, 2021 03:38PM EDT

American Resources Selects Site In Noblesville, Indiana For New Commercial Scale Facility

* American Resources Corp (NASDAQ:AREC) has finalized its site selection to build its first commercial-scale rare earth element purification and isolation facility in the U.S. The chosen site is based in Noblesville, IN, in an existing industrial area.

* The secured site provides 6.9 acres of developable land to scale into an 80,000 square foot facility for purifying and isolating rare earth and critical elements utilizing ligand assisted displacement (LAD) chromatography technology.

* The company's chromatography process utilizes an environmentally safe purification method and eliminates relying on China for the final steps in the rare earth element refining process.

* The facility will be designed with multiple production lines to process various feedstocks from its technology chain.

* Price Action: AREC shares are trading higher by 4.40% at $1.9 on the last check Wednesday.