American Resources Corporation's ReElement Technologies and IRIS Metals Come Together to Develop Domestic Production of Battery-Grade Lithium
American Resources 's subsidiary ReElement Technologies has signed an MOU with IRIS Metals to develop domestic production of battery-grade lithium carbonate. The partnership aims to convert US-origin 6% spodumene concentrate (SC6) from IRIS Metals' Beecher Lithium Project in South Dakota into battery-grade lithium carbonate using ReElement's proprietary technology.
Key points:
- IRIS Metals aims to commence domestic SC6 production in 2025
- ReElement is scaling up operations at its 42-acre campus in Marion, Indiana
- The partnership will offer fully Inflation Reduction Act (IRA) compliant lithium units to the US market
- ReElement's technology is described as cost-effective, scalable, and environmentally safe compared to conventional processes
This collaboration is positioned to address the growing demand for domestically-sourced critical minerals in the US, supporting both the electrified economy and national security needs.
La consociata di American Resources, ReElement Technologies, ha firmato un MOU con IRIS Metals per sviluppare la produzione domestica di carbonato di litio di grado batterie. Il partenariato punta a convertire il concentrato di spodumene SC6 al 6% di origine statunitense proveniente dal Beecher Lithium Project di IRIS Metals nel South Dakota in carbonato di litio di grado batterie, utilizzando la tecnologia proprietaria di ReElement.
Punti chiave:
- IRIS Metals prevede di avviare la produzione domestica di SC6 nel 2025
- ReElement sta ampliando le sue operazioni nel suo campus di 42 acri a Marion, Indiana
- La partnership offrirà unità di litio completamente conformi all'Inflation Reduction Act (IRA) al mercato statunitense
- La tecnologia di ReElement è descritta come economica, scalabile e ambientalmente sicura rispetto ai processi convenzionali
Questa collaborazione è destinata a soddisfare la crescente domanda di minerali critici di origine domestica negli Stati Uniti, sostenendo sia l'economia elettrificata che le esigenze di sicurezza nazionale.
La subsidiaria de American Resources, ReElement Technologies, ha firmado un MOU con IRIS Metals para desarrollar producción nacional de carbonato de litio de grado de batería. La asociación tiene como objetivo convertir el concentrado de espodumena SC6 al 6% de origen estadounidense del Proyecto de Litio Beecher de IRIS Metals en Dakota del Sur en carbonato de litio de grado de batería utilizando la tecnología patentada de ReElement.
Puntos clave:
- IRIS Metals tiene como objetivo comenzar la producción nacional de SC6 en 2025
- ReElement está escalando sus operaciones en su campus de 42 acres en Marion, Indiana
- La asociación ofrecerá unidades de litio completamente conformes con la Ley de Reducción de Inflación (IRA) para el mercado estadounidense
- La tecnología de ReElement se describe como rentable, escalable y ambientalmente segura en comparación con los procesos convencionales
Esta colaboración está posicionada para abordar la creciente demanda de minerales críticos de origen nacional en EE.UU., apoyando tanto la economía electrificada como las necesidades de seguridad nacional.
미국 자원의 자회사인 ReElement Technologies가 IRIS Metals와 양해각서(MOU)를 체결하여 배터리 등급 탄산리튬의 국내 생산을 개발합니다. 이 파트너십은 IRIS Metals의 사우스다코타에 있는 비쳐 리튬 프로젝트에서 미국산 6% 스포듀민 농축물(SC6)을 ReElement의 독점 기술을 사용하여 배터리 등급 탄산리튬으로 전환하는 것을 목표로 합니다.
주요 사항:
- IRIS Metals는 2025년 국내 SC6 생산을 시작할 계획입니다
- ReElement는 인디애나주 마리온에 있는 42에이커 캠퍼스에서 운영을 확장하고 있습니다
- 이 파트너십은 미국 시장에 완전히 인플레이션 감축 법(IRA) 준수 리튬 유닛을 제공할 것입니다
- ReElement의 기술은 전통적인 공정에 비해 비용 효율적이고 확장 가능하며 환경적으로 안전한 것으로 설명됩니다
이 협력은 미국 내에서 국내 조달된 핵심 광물에 대한 증가하는 수요를 해결하며, 전기화된 경제와 국가 안보 요구를 모두 지원하는 데 기여할 것으로 예상됩니다.
La filiale d'American Resources, ReElement Technologies, a signé un protocole d'accord avec IRIS Metals pour développer la production domestique de carbonate de lithium de qualité batterie. Ce partenariat vise à convertir le concentré de spodumène SC6 à 6% d'origine américaine du projet Beecher Lithium d'IRIS Metals dans le Dakota du Sud en carbonate de lithium de qualité batterie en utilisant la technologie propriétaire de ReElement.
Points clés :
- IRIS Metals vise à commencer la production nationale de SC6 en 2025
- ReElement intensifie ses opérations sur son campus de 42 acres à Marion, Indiana
- Le partenariat proposera des unités de lithium entièrement conformes à la loi sur la réduction de l'inflation (IRA) sur le marché américain
- La technologie de ReElement est décrite comme rentable, évolutive et respectueuse de l'environnement par rapport aux procédés conventionnels
Cette collaboration est positionnée pour répondre à la demande croissante de minéraux critiques d'origine nationale aux États-Unis, soutenant à la fois l'économie électrifiée et les besoins de sécurité nationale.
Die Tochtergesellschaft von American Resources, ReElement Technologies, hat ein MOU mit IRIS Metals unterzeichnet, um die nationale Produktion von lithiumhaltigem Carbonat in Batteriequalität zu entwickeln. Die Partnerschaft zielt darauf ab, das US-amerikanische 6% Spodumen-Konzentrat (SC6) aus dem Beecher Lithium Projekt von IRIS Metals in South Dakota mithilfe von ReElements proprietärer Technologie in lithiumhaltiges Carbonat in Batteriequalität umzuwandeln.
Wichtige Punkte:
- IRIS Metals plant, 2025 mit der nationalen SC6-Produktion zu beginnen
- ReElement erweitert seine Betriebe auf seinem 42 Hektar großen Campus in Marion, Indiana
- Die Partnerschaft wird vollständig konforme Lithium-Einheiten gemäß dem Inflation Reduction Act (IRA) für den US-Markt anbieten
- Die Technologie von ReElement wird als kosteneffektiv, skalierbar und umweltfreundlich im Vergleich zu herkömmlichen Verfahren beschrieben
Diese Zusammenarbeit soll der wachsenden Nachfrage nach inländisch beschafften kritischen Mineralien in den USA gerecht werden und sowohl die elektrifizierte Wirtschaft als auch die nationalen Sicherheitsbedürfnisse unterstützen.
- Partnership aims to establish domestic production of battery-grade lithium carbonate
- Potential to offer fully Inflation Reduction Act (IRA) compliant lithium units to the US market
- ReElement's technology claimed to be more cost-effective and environmentally friendly than conventional processes
- Collaboration addresses growing demand for domestically-sourced critical minerals in the US
- Production timeline is still in the future, with IRIS Metals aiming to commence SC6 production in 2025
- Partnership is based on an MOU, not a definitive agreement
Insights
This MOU between ReElement Technologies and IRIS Metals represents a potentially significant development for American Resources (AREC). The partnership aims to establish a domestic supply chain for battery-grade lithium, which is important for the growing electric vehicle and energy storage markets.
Key points to consider:
- The agreement leverages ReElement's proprietary technology for lithium conversion, potentially giving AREC a competitive advantage in the market.
- By focusing on domestic production, the partnership aligns with the Inflation Reduction Act (IRA) incentives, which could lead to favorable pricing and demand for their products.
- The timeline for IRIS Metals to begin SC6 production in 2025 suggests that meaningful revenue impact may not occur in the immediate term.
- ReElement's technology claims to be more cost-effective and environmentally friendly than traditional methods, which could lead to better margins and ESG positioning.
While promising, investors should note that this is still an early-stage agreement. The success will depend on factors such as the scale-up of production, market demand and the ability to compete on cost and quality with established producers.
ReElement's proprietary chromatographic separation and purification technology represents a potential breakthrough in lithium processing. Traditional lithium extraction methods often involve energy-intensive evaporation ponds or chemical-heavy processes. ReElement's approach, utilizing columns and resins, could offer several advantages:
- Reduced environmental impact: Lower chemical usage and waste production.
- Scalability: The modular nature of chromatographic systems allows for easier scaling.
- Flexibility: The technology can potentially handle various feedstocks, from recycled materials to concentrated ores.
- Cost-effectiveness: Claims of lower CapEx and OpEx could translate to competitive pricing.
However, the technology's performance at commercial scale remains to be proven. Investors should monitor the progress of ReElement's Marion, Indiana facility for validation of these claims. If successful, this technology could position AREC as a significant player in the critical minerals refining space, particularly given the growing demand for domestically-sourced battery materials.
Companies enter into a Memorandum of Understanding (MOU) to develop a commercial partnership
ReElement will utilize its proprietary technology for lithium conversion and production of battery-grade lithium carbonate from concentrated spodumene ore produced from IRIS Metals
FISHERS, IN / ACCESSWIRE / October 10, 2024 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company") announced today that its wholly owned subsidiary, ReElement Technologies Corporation ("ReElement"), a leading provider of high-performance refining capacity for rare earth and critical battery elements, has signed a Memorandum of Understanding (MOU) with IRIS Metals Limited ("IRIS") for downstream lithium conversion and the production of battery grade lithium carbonate equivalent (LCE). The MOU follows the successful production of
IRIS Metals Chairman, Peter Marks, commented, "The team at IRIS Metals is thrilled with the new partnership with ReElement. This collaboration is set to transform our concentrate into battery-grade lithium carbonate right here in the US, using homegrown technology and processes. It's a pivotal step that not only elevates IRIS from explorer to near-term producer, but also strengthens our commitment to a fully domestic supply chain. IRIS is on track to announce a maiden mineral resource estimate at Beecher and we remain ambitious to expand into a multi-project lithium enterprise in the coming years."
Mark Jensen, CEO of ReElement Technologies added, "Securing reliable lithium sources is crucial for bolstering our integrated supply chain and aligns with ReElement's commitment to being a leading and sustainable producer of ultra-pure, refined rare earth and critical battery elements. We utilize the most cost effective and environmentally safe methods developed to date, and I'm confident that the MOU with IRIS Metals will establish a strong foundation for our joint efforts to accelerate business growth and seize opportunities that address both the electrified economy and national security needs."
Under the MOU between IRIS Metals and ReElement, the parties aim to convert US-origin SC6 into battery-grade lithium carbonate within the United States, utilizing ReElement's proprietary intellectual property and commercial processes. This development signifies IRIS Metals' progression from an exploration company to a near-term producer and supplier of lithium carbonate equivalent (LCE), leveraging a fully domestic supply chain.
IRIS's Beecher project is already licensed for production, and ReElement is advancing from its Customer Qualification Plant in Noblesville, Indiana to its commercial-scale critical mineral refining plant at their 42-acre campus in Marion, Indiana. Together, the parties are positioned as an imminent new domestic supplier of lithium carbonate, offering fully Inflation Reduction Act (IRA) compliant lithium units to the expanding US market. This partnership is a pivotal step towards fulfilling America's critical mineral requirements.
Following the signing of this MOU and the successful demonstration-scale conversion trial, additional bulk testing and definitive discussions for commercialization and production ramp-up are planned. IRIS Metals aims to commence domestic SC6 production in 2025, while ReElement scales into its large-scale commercial operations in Marion, Indiana.
ReElement utilizes its patented technology for the separation and purification of rare earth and critical battery and defense material. Unlike conventional solvent-based, hydrometallurgical processes that rely on toxic acids and solvents, ReElement maximizes surface area interface by using columns and resins. This innovative application of this longstanding technology significantly reduces CapEx, physical footprint, environmental impact, chemical usage, resulting in lower OpEx for mineral separation, purification and refinement.
The technology was developed over decades, drawing on expertise from commercially operating processes used in industries such as sugar refinement (for fructose and glucose) and pharmaceutical production, including commercial production of insulin.
ReElement Technologies is dedicated to leading the domestic supply chain for refined rare earth and critical battery elements, addressing both the electrified economy and national security needs. The Company has demonstrated that its patented chromatographic separation and purification technology is a cost effective, scalable, flexible and environmentally safe alternative to the legacy processes, which are both environmentally and socially harmful. As the Company expands and scales production across its own and partner facilities, it will play a key role in reducing U.S. dependence on foreign sources of critical raw materials while also fostering a true circular life-cycle solution.
Learn more about ReElement Technologies' process and technology here - Video.
About ReElement Technologies Corporation
ReElement Technologies Corporation, a wholly owned subsidiary of American Resources Corporation (NASDAQ:AREC), 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 IRIS Metals
IRIS Metals Ltd (ASX:IR1) is an exploration company with an extensive suite of assets considered to be highly prospective for hard rock lithium located in South Dakota, United States (US). The company's large and expanding South Dakota Project is in a mining friendly jurisdiction and provides the company with strong exposure to the battery metals space, and the incentives offered by the US government for locally sourced critical minerals.
The Black Hills have a long and proud history of mining dating back to the late 1800s. The Black Hills pegmatites are famous for having the largest recorded lithium spodumene crystals ever mined. Extensive fields of fertile LCT-pegmatites outcrop throughout the Black Hills with significant volumes of lithium spodumene mined in numerous locations.
To learn more, please visit: www.irismetals.com
About American Resources Corporation
American Resources Corporation 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
(908) 824 - 0775
arec@jtcir.com
RedChip Companies Inc.
Robert Foley
1-800-RED-CHIP (733-2447)
Info@redchip.com
Company Contact:
Mark LaVerghetta
317-855-9926 ext. 0
investor@americanresourcescorp.com
IRIS Metals Contacts:
Company:
Peter Marks
admin@irismetals.com
Investor & Media:
Melissa Tempra
melissa@nwrcommunications.com.au
SOURCE: American Resources Corporation
View the original press release on accesswire.com
FAQ
What is the purpose of the MOU between ReElement Technologies and IRIS Metals?
When does IRIS Metals plan to start domestic SC6 production for the AREC partnership?
How does ReElement's technology differ from conventional lithium processing methods?
What is the significance of this partnership for the US lithium market?
