ReElement Technologies Corporation Receives $150 Million Letter of Interest from United States EXIM Bank to Advance the Nation's Largest Critical Mineral Refinery

Associated Press

3 days ago

Marion Advanced Technology Center positioned to become the largest multi-mineral, multi-feedstock rare earth and critical mineral refinery in the United States
EXIM's support of the proposed capital funding plan for the Marion Advanced Technology Center advances the 'Make More In America' initiative amid rising competition from China in critical mineral supply chains
FISHERS, IN / ACCESS Newswire / June 9, 2025 / American Resources Corporation (NASDAQ:AREC) ('American Resources'), through its holding in ReElement Technologies Corporation ('ReElement' or 'RTC'), a leading U.S. innovator in rare earth element (REE) and critical mineral refining, announced today that it has received support for the proposed capital funding plan by ReElement Technologies Corporation for the Marion Advanced Technology through a Letter of Interest (LOI) from the Export-Import Bank of the United States (EXIM) for up to $150 million in financing. This financing will support the expansion of ReElement's state-of the-art rare earth, critical mineral and defense mineral refining project that is set to become the nation's largest multi-mineral, multi-feedstock rare earth and critical mineral refinery. The Marion facility builds on ReElement's successful commercial operations in its Noblesville, Indiana facility supplying highly refined critical mineral products to both the commercial and defense markets.
ReElement's Advanced Separation Platform Aligned with National Mandate for Mineral Independence
ReElement Technologies' rare earth element (REE) separation process - based on its patented and proprietary chromatography-based refining methods - represents a transformative leap forward in strengthening the U.S. industrial base for critical minerals. This innovative platform directly supports Presidential Executive Orders focused on restoring mineral independence and securing national supply chains. ReElement's process consistently produces ultra-high-purity (99.5%+) rare earth oxides and compounds such as neodymium, dysprosium, terbium, gallium, antimony, samarium, yttrium, gadolinium, and others - key materials required for metallization, magnet production, and advanced technologies across defense and commercial applications.
Mark Jensen, CEO of ReElement Technologies commented, 'We're honored to receive positive support from the Export-Import Bank of the United States. Our team has worked tirelessly to validate our next-generation refining platform and strategically scale production to meet the growing needs of both commercial and defense sectors. From day one, our vision has been clear: the U.S. must regain control of the midstream segment of the critical mineral supply chain if we are to compete globally. Support from the federal government significantly accelerates the buildout of additional refining capacity at our 42-acre Marion campus and beyond. We are laser-focused on scaling up production of refined rare earth oxides and defense-grade mineral compounds that are urgently needed here at home. As we see it, ReElement is among the only - if not the only - commercial entity in the United States capable of producing these materials at quantities and cost structures that rival or even undercut the Chinese industrial base. We're excited to expand our footprint domestically and internationally, delivering long-term supply chain resilience and a diversified source of critical and rare earth elements.'
Federal Support Aligned with New Executive Action on U.S. Mineral Production
The issuance of this Letter of Interest aligns with the March 20, 2025, Executive Order titled " Immediate Measures to Increase American Mineral Production ". The order directs federal agencies, including EXIM, to streamline permitting, unlock financing, and establish offtake agreements for U.S.-based critical mineral processing facilities. It also sets near-term mandates for fast-tracking approvals, mobilizing capital, and stockpiling strategic materials vital to national defense, clean energy, and next-generation technology infrastructure.
ReElement's Technological Edge: Chromatographic Separation and Purification
ReElement employs continuous chromatography, a breakthrough in rare earth separation and purification that delivers:
ReElement's refining platform - originally developed by Purdue University for pharmaceutical purification - has been reengineered to separate rare earths and critical minerals with exceptional efficiency, scalability, and purity. Their patented, programmable platform handles multiple feedstocks and minerals, enabling rapid modular deployment across locations and resource types. Unlike legacy solvent extraction methods, it uses far fewer chemicals, requires less space, and generates minimal waste - making it faster to permit and simpler to co-locate near feedstock or end-use customers. This breakthrough eliminates a major chokepoint in global critical mineral supply chains, which has been dominated by single-source processing, no longer tenable as the U.S. must forge critical mineral supply chain independence, both through refining in the U.S. and in partnership with allies abroad.
About ReElement Technologies Corporation
ReElement Technologies Corporation is a leading provider of high-performance refining capacity for rare earth and critical battery elements. Its multi-mineral, multi-feedstock platform technology focuses on the refining of recycled material from rare earth permanent magnets and lithium-ion batteries, concentrated ores and brines, as well as coal-based waste streams and byproducts to create a cost effective and environmentally-safe, circular supply chain. ReElement has developed its innovative and scalable 'Powered by ReElement' process which collaboratively utilizes its exclusively licensed intellectual property within its partners' material processing flow sheets to more efficiently support the global supply chain's growing demand for magnet and battery-grade products. For more information visit reelementtech.com or connect with the Company on Facebook, Twitter, and LinkedIn.
About American Resources Corporation (NASDAQ:AREC)
American Resources Corporation is a leader in the critical mineral supply chain, developing innovative solutions both upstream and downstream of the refining process. The company and its affiliates focus on the extraction and processing of metallurgical carbon and iron ore, essential ingredients in steelmaking, as well as critical and rare earth minerals for the electrification market and recycled metals.
Leveraging its affiliation and former parent status of ReElement Technologies Corporation, a leading provider of high-performance refining capacity for rare earth and critical battery elements, American Resources is investing in and developing efficient upstream and downstream critical mineral operations. These operations include mining interests in conventional and unconventional sources, recycling, and manufacturing.
American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure and electrification markets while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit americanresourcescorp.com or connect with the Company on Facebook, Twitter, and LinkedIn.
Special Note Regarding Forward-Looking Statements
This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond American Resources Corporation's control. The words 'believes', 'may', 'will', 'should', 'would', 'could', 'continue', 'seeks', 'anticipates', 'plans', 'expects', 'intends', 'estimates', or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.
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SOURCE: American Resources Corporation
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