American resources corporation's reelement technologies closes $44.9 million in local incentives for lithium-ion battery and rare earth element recycling campus

Marion, indiana has issued a tax increment financing bond in the amount of $44.9 million for company's 42-acre critical mineral refining campus for battery-grade lithium and magnet-grade rare earth elements first fully integrated domestic refinery producing ultra-pure battery elements (lithium, cobalt and nickel) and rare earth elements (neodymium, dysprosium and praseodymium) for ev battery and permanent magnet supply chains fishers, in / accesswire / november 9, 2023 / american resources corporation's (nasdaq:arec) ("american resources" or the "company") wholly owned subsidiary, reelement technologies corporation ("reelement"), a leading provider of high performance refining capacity of rare earth and critical battery elements, today announced that it has closed the bond purchase agreement for the previously announced $44.9 million of local incentives from the city of marion, indiana in the form of an economic development revenue bond. this bond is being issued by the city as incentive for reelement technologies to construct a state-of-the-art, commercial scale lithium, critical minerals, and rare earth elements refining facility utilizing reelement technologies' proprietary and patented chromatography technologies at the company's recently announced 42-acre campus in marion, indiana.
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