$25 Million Industrial Base Fund Investment Expands Domestic Production of Defense-Critical Rare Earth and Strategic Minerals to Strengthen America's Industrial Base
Industrial Base Fund Investment Accelerates Commercial Expansion of ReElement's Marion Advanced Technology Center to Strengthen America's Domestic Critical Mineral Supply Chain
FISHERS, IN / ACCESS Newswire / July 14, 2026 / American Resources Corporation (NASDAQ:AREC) ("American Resources") through its affiliated minority holding in ReElement Technologies Corporation ("ReElement"), a leading U.S.-based innovator in rare earth and critical mineral refining, today announced that the United States Department of War, through its Economic Defense Unit (EDU) in partnership with the Office of the Under Secretary of War for Acquisition and Sustainment (OUSW(A&S)), has awarded the Company a $25 million investment through the Industrial Base Fund, as announced by the Department of War, to expand domestic refining capacity at ReElement's Marion, Indiana Refining Campus.
The investment will fund additional refining equipment, production line installation and working capital to accelerate commercial production of high-purity rare earth elements and other defense-critical minerals. The expanded capacity will process both primary and recycled feedstocks, including end-of-life permanent magnets and other strategic materials, to produce high-purity rare earth oxides and specialty critical minerals such as yttrium, gadolinium, germanium and gallium for advanced communications, aerospace, defense, semiconductors, and other strategic applications.
"This investment reflects the growing importance of secure, domestic refining capacity to America's national security and industrial resilience," said Mark Jensen, Chief Executive Officer of ReElement Technologies. "We are excited to expand our partnership with the Department of War as we work together to strengthen America's critical mineral supply chain. The speed at which the Department has moved to identify this strategic need and execute this investment has been truly impressive. This support accelerates our ability to deliver the high-purity rare earth and critical mineral products needed to strengthen our defense industrial base while reinforcing America's long-term economic and national security."
Unlike conventional refining projects that are typically developed around a single mine, feedstock or commodity, ReElement has developed a refining-first platform designed to process multiple primary and recycled feedstock sources into a broad portfolio of high-purity rare earth elements and critical minerals. The Company's modular, demand-aligned refining architecture enables production capacity to be sequenced alongside customer demand, allowing capital deployment to remain closely aligned with commercial growth while reducing dependence on any single upstream resource or geography.
ReElement's technology platform is designed to economically separate, purify and refine multiple critical materials using proprietary chromatographic separation technology. The platform is capable of producing products at purities ranging from approximately 99.5% to 99.999% and is designed to support multiple supply chains through a common refining infrastructure. This multi-element, multi-feedstock approach provides the flexibility to process a diverse range of primary mineral concentrates, industrial byproducts and recycled materials while supplying customers across defense, aerospace, advanced manufacturing, semiconductors, permanent magnets, battery materials and other strategic industries.
This investment by EDU and OUSW(A&S) join other previous investments in 2026 from Transition Equity Partners, LLC and a strategic investment by Mitsubishi Materials Corporation.
Since commercializing its technology, ReElement has successfully demonstrated the production of more than a dozen rare earth and critical mineral products, including germanium (Ge), yttrium (Y), gadolinium (Gd), dysprosium (Dy), terbium (Tb), samarium (Sm), neodymium (Nd), praseodymium (Pr), lithium (Li) and tungsten (W), among others. The Company's Noblesville, Indiana Commercial Qualification Facility has validated products and refining processes across multiple feedstocks and end markets while supplying initial commercial production into markets experiencing significant global supply constraints.
The Marion Refining Campus represents the next phase of ReElement's commercial expansion and is being developed using a modular approach that enables individual production lines to be commissioned based on customer demand. The facility is expected to support the commercial production of multiple rare earth and critical mineral products while serving as a cornerstone of America's growing domestic refining infrastructure.
The Department of War's investment further reinforces the growing importance of establishing secure, domestic refining capacity as governments and industry work together to build resilient allied supply chains for critical minerals essential to national security and advanced manufacturing.
The Department of War's official announcement regarding the Industrial Base Fund investment is available here: https://www.war.gov/News/Releases/Release/Article/4541423/department-of-war-announces-25-million-investment-with-reelement-technologies-t/
About ReElement Technologies Corporation
ReElement Technologies Corporation, a minority holding of American Resources Corporation (NASDAQ:AREC), is a leading provider of high-performance refining capacity for rare earth elements and critical minerals. Its refining-first, multi-mineral, multi-feedstock platform is designed to process a wide range of inputs - including recycled materials from permanent magnets, lithium-ion batteries, and industrial, defense, and technology waste streams, as well as mined ores, brines, and coal-based byproducts - into high-purity products that support a cost-effective, environmentally responsible, and circular supply chain.
ReElement's innovative and scalable "Powered by ReElement" process leverages its exclusively licensed and internally developed intellectual property, integrating directly into partners' material processing flowsheets to enhance efficiency and adaptability across the global critical mineral supply chain. For more information visit reelementtech.com or connect with the Company on Facebook, X, and LinkedIn.
About American Resources Corporation (NASDAQ:AREC)
American Resources Corporation has established a comprehensive solution platform across the rare earth and critical mineral supply chain, leveraging its affiliation with, and former parent relationship to, ReElement Technologies Corporation - a leading provider of high-performance refining capacity for rare earth and critical battery elements. The Company is advancing efficient upstream and downstream critical mineral operations.
These operations span conventional and unconventional resource sourcing and development, as well as recycling and manufacturing, enabling American Resources to aggregate and process diverse feedstocks while efficiently aligning supply with end-market demand.
American Resources has established a nimble, low-cost business model focused on scalable growth. Its streamlined approach enables the Company to expand its asset portfolio and meet increasing global demand across infrastructure, defense, technology, and electrification markets - while maximizing margins and maintaining cost discipline. 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.
Company Contact:
Mark LaVerghetta
317-855-9926 ext. 0
investor@americanresourcescorp.com
SOURCE: American Resources Corporation
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