American Resources Corporation Appoints Byron Price, Ph.D. to Develop African Raw Materials Feedstock Relationships for its ReElement Technologies Division
American Resources Corporation (NASDAQ:AREC) has appointed Dr. Byron Price to lead efforts in developing resource partnerships in Africa for its subsidiary, ReElement Technologies. Dr. Price aims to utilize cutting-edge processing technology to produce ultra-high purity critical elements from socially responsible mining practices. The initiative seeks to enhance local economies while leveraging Africa's rich mineral reserves. The company anticipates that by refining materials within Africa, it can reduce costs and retain value, supporting the electrification sector's growth.
- Appointment of Dr. Byron Price strengthens leadership with extensive regional contacts.
- Focus on socially responsible mining and processing may enhance corporate reputation.
- Potential for local economic growth through partnerships in Africa.
- Concerns about continuity and experience gaps in the management team could impact operations.
- Dependency on the success of regional partnerships may pose operational risks.
Byron will focus on developing and vetting resource partnerships in Africa to support ReElement Technologies' expansion in the electrified economy
Byron's work with ReElement Technologies will help company bring its cutting-edge processing technology to the local level in Africa to produce ultra-high purity critical elements from socially conscious mining regions
Africa holds some of the world's best reserves of critical minerals
FISHERS, IN / ACCESSWIRE / January 4, 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 the appointment of Dr. Byron Price to the team of ReElement Technologies LLC ("ReElement"), a wholly-owned subsidiary of the Company, to help evaluate and develop new relationships in Africa, a resource rich continent, whereby ReElement Technologies' patents and technology can be utilized to not only produce high-value, purified critical elements, but also improve local economies throughout the countries in Africa in which ReElement will operate.
Mark LaVerghetta, Vice President of Corporate Finance and Communication of American Resources Corporation commented, "We are excited that Byron has agreed to join our team to help expand our footprint into the Africa continent. Byron has spent the last 6-plus months in South Africa during his sabbatical with the City University of New York and has some tremendous contacts and relationships throughout Africa. He has also seen firsthand the opportunity that is present to bring high-value technologies to the African continent to produce highly-refined critical minerals for the electrified economy while also improving the quality of life for the local population. Collectively we believe that our technology could enable various African communities to leap forward and benefit from the ability to refine materials within Africa rather than by only extracting the resource and exporting the value to other countries such as China and Russia. Our modular, low-cost and environmentally-safe refining methods enable African countries to retain that value while also reducing the cost of critical minerals for the growth of the electrification industry."
Dr. Price will work with the ReElement team to analyze opportunities throughout Africa to produce high-purity critical minerals for the local economy as well as the United State market. As part of the due diligence process, Byron will help verify regions within the continent that have the appropriate quality standards of mining and extraction operations, alongside attractive and economically-viable resources and deposits in order to maximize the value of ReElement Technologies' electrolysis and chromatographic separation and purification technology for critical mineral refining. As opportunities to partner with companies in Africa become clear, ReElement Technologies anticipates selectively expanding its resources and team to ensure the Company is properly capitalizing on these opportunities.
Dr. Price added, "It's a very exciting time to be joining the ReElement Technologies team. Their revolutionary critical minerals refining technology is exactly what certain resource-rich regions in Africa need to support the growth of mining and processing of these highly sought-after resources. The flexible, low cost and environmentally-sensitive nature will enable the technology to be efficiently implemented and utilized while also presenting a meaningful socio-economic benefit for certain African communities."
Byron E. Price, Ph.D. is a professor of public administration and the former Dean of the School of Business at Medgar Evers College of the City University of New York in Brooklyn and the former Lillie and Nathan Ackerman Chair of Social Justice at Baruch College (Visiting Endowed Professor), which is housed in the Center on Equality, Pluralism and Policy. He formerly served as the Director of the Barbara Jordan Institute of Policy Research and as an associate professor of political science in the Barbara Jordan Mickey Leland School of Public Affairs at Texas Southern University (TSU) in Houston, Texas. Dr. Price spent five years at Rutgers University -Newark at the School of Public Affairs and Administration where he served as an assistant professor of public administration and director of the MPA and Executive MPA Programs as well as a number of other leadership positions including serving as the Associate Director of the National Center for Public Performance and Editor-in-Chief of the Journal of Public Management and Social Policy. Before beginning his academic career, Byron served in the United States Army as Deputy Commander, Executive Officer and Training Officer at Fort Sill in a period that covered the Desert Storm operation and he honorably separated in 1991 and achieved the rank of Captain. A leading scholar in the field of prison privatization, he is the author of the book, Merchandizing Prisoners: Who Really Pays for Prison Privatization published by Praeger Publishers in March 2006 and the coedited 3-volume set entitled "Prison Privatization: The Many facets of a Controversial Industry" by Praeger Publishers, September 2012. His areas of research are prison privatization, prisoner reentry, school-to-prison pipeline, cause-based entrepreneurship and social justice.
Dr. Price is acutely aware of the balance between utilizing the theory of academia and its application to solving real world problems. During his time at Rutgers University, he was responsible for the creation of the Diversity Fund in 2004, which enabled disadvantaged minority students an opportunity to continue their studies. He also taught in the Executive MPA program where leading local and state officials were able to bridge theory and practice. For his work, he was awarded in 2006 the Human Dignity Award; one of the highest honors Rutgers bestows on individuals dedicated to promoting a culturally enriching environment at Rutgers and the surrounding community.
About ReElement Technologies LLC
ReElement Technologies LLC is redefining how critical and rare earth elements are both sourced and processed while focusing on the recycling of end-of-life products such as rare earth permanent magnets and lithium-ion batteries, as well as coal-based waste streams and byproducts to create a low-cost and environmentally-safe, circular supply chain. ReElement Technologies has developed its innovative and scalable "Capture-Process-Purify" process chain in conjunction with its licensed intellectual property including 16 patents and technologies and sponsored research partnerships with three leading universities to support the domestic supply chain's growing demand for magnet and battery metals. For more information visit reelementtech.com or connect with the Company on Facebook, Twitter, and LinkedIn.
About American Resources Corporation
American Resources Corporation (NASDAQ:AREC) is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking, critical and rare earth minerals for the electrification market, and reprocessed metal to be recycled. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon and rare earth mineral deposits are concentrated.
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.
Investor Contact:
JTC Team, LLC
Jenene Thomas
833-475-8247
arec@jtcir.com
RedChip Companies Inc.
Todd McKnight
1-800-RED-CHIP (733-2447)
Info@redchip.com
Company Contact:
Mark LaVerghetta
Vice President of Corporate Finance and Communications
317-855-9926 ext. 0
investor@americanresourcescorp.com
SOURCE: American Resources Corporation
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FAQ
What is the significance of Dr. Byron Price's appointment for American Resources Corporation (AREC)?
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