American Marconi Wireless News - ReElement Technologies Signs MOU with POSCO International to Bolster Rare Earth Supply Chain and Build Integrated U.S. Production Complex

The signing ceremony, held at the POSCO Center in Seoul, was attended by Kye-In Lee, President & CEO of POSCO International; Mark Jensen, CEO of ReElement Technologies; Na Sung-hwa, Director General for Industrial Supply Chain Policy; and Joseph Yun, U.S. Deputy Ambassador to Korea.

The planned Integrated Rare Earth and Permanent Magnet Production Complex would be the first U.S. facility to achieve full vertical integration of rare-earth and permanent-magnet production within an integrated industrial complex. It is designed to manage every stage-from securing rare-earth raw materials and conducting separation and refining, to manufacturing permanent magnets and recycling manufacturing scrap and end-of-life magnets-all within one facility.

Under the partnership, POSCO International will oversee sourcing of rare-earth intermediate materials and the permanent-magnet business, while ReElement will provide advanced separation, refining, and recycling technology. The governments of Korea and the United States also discussed potential policy, financial, and regulatory support should the project move into full-scale implementation.

Currently, the global rare-earth supply chain relies heavily on a limited number of countries. Because rare-earth elements are indispensable for industries such as electric vehicles, semiconductors, and wind power, this concentration poses geopolitical risks and supply-chain uncertainties that threaten global industrial stability.

This collaboration seeks to diversify and de-risk supply chains, mitigating such risks and creating a foundation for flexible responses to changes in demand. By securing a more stable supply of rare-earth raw materials and strengthening permanent-magnet production capabilities, the initiative will enable long-term, stable, and flexible delivery of critical materials to automakers worldwide.

POSCO International is already expanding its presence in the global permanent-magnet market. In 2023, the company signed a contract with a major North American automaker to supply approximately 7,700 tons of permanent magnets-enough for about 3.85 million electric-vehicle motors-between 2026 and 2031. It also concluded an agreement with a premium European automaker to supply roughly 800 tons-sufficient for about 400,000 electric-vehicle motors-from 2025 through 2034.

ReElement is rapidly advancing its economically viable and eco-friendly critical mineral refining platform in Indiana at its Noblesville Commercial Qualification Facility and its Marion Supersite. Leveraging advanced chromatographic separation and purification methods, ReElement is addressing the most complex segment of the supply chain while building strategic alliances to strengthen global critical mineral supply chains.

Building on this cooperation, POSCO International plans to broaden its value chain to solidify its position as a key supplier of electric-vehicle drivetrain components. Future plans include offering complete packages of all parts required for drive-motor-core rotors and stators to automakers domestically and internationally.

"The agreement will help strengthen resource security and diversify supply chains in both Korea and the United States," said Kye-In Lee, President & CEO of POSCO International. "It provides an opportunity to reduce the risks of supply-chain concentration and to establish a stable system for supplying critical materials to domestic and global automakers."

"Our collaboration with POSCO marks an important step forward," added Mark Jensen, CEO of ReElement Technologies. "By combining our patented refining technology with POSCO's industrial capabilities, we are scaling rare earth processing and strengthening the U.S.-Korea partnership to build resilient and sustainable supply chains for critical materials. Together, we are proving that innovation and collaboration can deliver secure, long-term solutions for industries and nations that depend on these materials."

About POSCO International Corporation

POSCO International, a core member of the POSCO Group, continues to solidify its position as a leading trading and investment company with a diverse business portfolio spanning steel, energy, and agribusiness. Leveraging an extensive global network, the company is actively engaged in steel trading, the development and operation of the Myanmar Gas Field, as well as sourcing key resources for its overseas agribusiness operations.

In line with its commitment to sustainable growth, POSCO International is also exploring future growth engines such as renewable energy and eco-friendly mobility components. By prioritizing innovation and sustainability, the company aims to stay ahead in a rapidly changing global business landscape.

Supported by a stable business foundation and robust global capabilities, POSCO International is well-positioned to achieve sustainable growth and create long-term value. For more information, please visit www.poscointl.com.

About ReElement Technologies Corporation

ReElement Technologies Corporation, a portfolio company 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 American Resources Corporation (NASDAQ:AREC)

American Resources Corporation is a leader in the critical mineral supply chain, developing innovative solutions both upstream and downstream of the refining process. The company and its affiliates focus on the extraction and processing of metallurgical carbon and iron ore, essential ingredients in steelmaking, as well as critical and rare earth minerals for the electrification market and recycled metals.

Leveraging its affiliation and former parent status of ReElement Technologies Corporation, a leading provider of high-performance refining capacity for rare earth and critical battery elements, American Resources is investing in and developing efficient upstream and downstream critical mineral operations. These operations include mining interests in conventional and unconventional sources, recycling, and manufacturing.

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
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Media Inquiries:

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Company Contact:

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SOURCE: American Resources Corporation

View the original press release on ACCESS Newswire

D.Moore--AMWN