American resources corporation enters into long term lithium spodumene purchase agreement in south africa

Initial phase of agreement will procure 5,000 metric tons of lithium spodumene ore per month, and later phase expected to increase to over 20,000 metric tons per month from two lithium mining concessions company will leverage its world-leading and patented reelement refining technology to produce ultra-pure lithium carbonate or hydroxide concurrent with site selection for large-scale, south african refining facility to reduce logistics cost, carbon footprint and create local jobs and economic benefits fishers, in / accesswire / june 7, 2023 / american resources corporation (nasdaq:arec) ("american resources" or the "company"), a next generation and socially responsible supplier of rare earth and critical elements, carbon and advanced carbon materials, today announced that it has entered into the first stage of a south african partnership through the signing of an offtake agreement to purchase 6%+ lithium spodumene ores from a series of regional operating mining concessions to be refined to greater than 99.9% pure, battery-grade lithium carbonate or hydroxide using its wholly-owned reelement technologies' patented refining and purification processes. mark jensen, ceo of american resources corporation commented, "our relationships throughout africa are expediting our ability to drive supply chain efficiency and move quickly into the continent in a method that will both benefit our domestic supply chain for the supply of ultra-pure critical and rare earth elements, while at the same point provide an economic and social benefit to the african nations where we are operating.
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