American Resources Further Reduces Environmental Liabilities and Long-Term Costs

Rhea-AI Summary

American Resources Corporation (AREC) announced significant progress in reducing its environmental liabilities through expedited reclamation efforts during the COVID-19 pandemic. The company secured bond releases totaling $400,000 and is progressing towards an additional $7 million in bond releases. This strategic initiative is aimed at enhancing long-term value for shareholders and establishing American Resources as a competitive supplier of metallurgical carbon for the growing infrastructure market. The company emphasizes its commitment to operational efficiency and environmental stewardship.

Positive

• Successfully secured $400,000 in bond releases.
• Progress towards an additional $7 million in bond releases.
• Strategic focus on reducing environmental liabilities enhances long-term shareholder value.
• Positioned to be a competitive supplier in the growing infrastructure market.

Negative

• None.

Strategic execution of environmental reclamation efforts further enhances Company's long-term value and reduce long-term cost structure

Company is poised to be one of the fastest growing U.S. supplier of high-quality met carbon and well positioned to serve long-term steel markets driven by global infrastructure demand

FISHERS, IN / ACCESSWIRE / September 10, 2020 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a supplier of raw materials to the rapidly growing global infrastructure marketplace, today provided an update on the further reduction of its environmental liabilities through the remediation of certain idled, non-core permits. Through its expanded environmental efforts, the Company has been able to expediate its environmental reclamation process during the COVID-19 pandemic and successfully receive bond releases of an additional $400,000 of associated reclamation bonds. Additionally, the Company has made substantial progress in the reclamation process that represents approximately an additional $7 million of bonds.

Mark Jensen, Chairman and CEO of American Resources Corporation commented, "We are extremely proud of our team's efforts to efficiently pull forward our environmental reclamation work which we believe will drive significant long-term value for our shareholders, as well as demonstrates our ability to think outside the box during these past few months. Additionally, the launch of American Metals has enabled us to leverage our environmental work to create a valuable, high-margin revenue stream for the Company, while also diversifying our product offerings that we can provide customers. We believe it is actions like this that separate us from our competitors."

American Resources, since inception, has strategically acquired and restructured mining complexes to set itself up for being one of the fastest growing, lowest cost metallurgical carbon platforms in the Central Appalachian basin over the next few years through cost cutting and right-sizing operations designed to fit the current and future market conditions. The Company is committed to continuing its efforts to identify operational efficiencies and ways to reduce future liabilities in its ongoing goal to be one of the lowest cost operators and responsible stewards of the environment in Central Appalachia and throughout all its coal mining, processing, and transportation operations.

About American Resources Corporation

American Resources Corporation is a supplier of high-quality raw materials to the rapidly growing global infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking. 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 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 market 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.

PR Contact:

Precision Public Relations
Matt Sheldon
917-280-7329
matt@precisionpr.co

Investor Contact:

JTC Team, LLC
Jenene Thomas
833-475-8247
AREC@jtcir.com

Company Contact:

Mark LaVerghetta
317-855-9926 ext. 0
Vice President of Corporate Finance and Communications
investor@americanresourcescorp.com

SOURCE: American Resources Corporation

View source version on accesswire.com:
https://www.accesswire.com/605479/American-Resources-Further-Reduces-Environmental-Liabilities-and-Long-Term-Costs

FAQ

What recent updates did American Resources Corporation (AREC) provide regarding environmental liabilities?

American Resources Corporation reported securing $400,000 in bond releases and is progressing toward an additional $7 million, aimed at reducing environmental liabilities.

How is American Resources Corporation (AREC) enhancing long-term value for shareholders?

The company is enhancing long-term value by efficiently reducing environmental liabilities through reclamation efforts, which are expected to drive financial performance.

What is American Resources Corporation's strategy for the growing infrastructure market?

American Resources Corporation aims to be a leading supplier of metallurgical carbon, leveraging its reclamation efforts to position itself favorably in the growing infrastructure market.