American Resources up on finalizing site for rare earth element facility

American Resources

18/08/2021 16:42

** Raw material supplier's shares  AREC.O  up 3.6% at $1.89
    ** Co says it finalized site selection to build its first
commercial scale rare earth element (REE) purification and
isolation facility in the United States  urn:newsml:reuters.com:*:nACSmcyHda
    ** Co chose an existing industrial site based in
Noblesville, Indiana, that provides access to commercial water
and power
    ** The secured site provides 6.9 acres of developable land
with the goal of scaling into an 80,000 square foot facility
    ** AREC says the facility represents the final stage of its
REE process chain, which will enable it to commercially produce
rare earth oxides, lithium and cobalt from domestic sources
    ** AREC is down 3.1% so far this year

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94))