American resources corporation's american carbon corporation completes strategic acquisition of 51% interest in iron ore and titanium assets

Jamaican-based resource deposit further establishes american carbon's foothold in the steelmaking supply chain for infrastructure development and expansion acquisition of mineral deposit and exclusive offtake rights for six percent of american carbon establishes an acquisition value of approximately $19.3 million initial reserve analysis represents over 212.9 million tons of total feedstock deposits fishers, in / accesswire / february 7, 2024 / american resources corporation's (nasdaq:arec) ("american resources" or the "company") subsidiary american carbon corporation ("american carbon"), an owner and operator of low-cost, high-quality metallurgical and specialty carbon assets, has acquired a 51% ownership interest in a diversified mineral asset with a focus on iron ore, titanium and vanadium with an initial estimated deposit of 212,925,000 tons of raw feedstock with an estimated 106,462,500 tons of ore body, based on an average of 50% magnetic material. tarlis thompson, chief executive officer of american carbon corporation, emphasized the importance and expansion into the broader supply chain for infrastructure and steel inputs stated, "this project is a diversified and high-quality asset that our team and colleagues have worked on for over a year to evaluate the market need and importance for high value assets in the iron ore and titanium markets.
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