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ReElement Technologies Secures Anchor Investment from South African Firm Novare Holdings to Catalyze Rare Earth Element Refining Expansion in America's Heartland
ReElement Technologies Secures Anchor Investment from South African Firm Novare Holdings to Catalyze Rare Earth Element Refining Expansion in America's Heartland

Yahoo

time02-06-2025

  • Business
  • Yahoo

ReElement Technologies Secures Anchor Investment from South African Firm Novare Holdings to Catalyze Rare Earth Element Refining Expansion in America's Heartland

South African Firm Commits to Driving American Industrial Renewal and Africa-U.S. Commercial Diplomacy FISHERS, IN / / June 2, 2025 / American Resources Corporation (NASDAQ:AREC) ("American Resources"), through its holding in ReElement Technologies Corporation ("ReElement"), a leading U.S. innovator in rare earth element (REE) and critical mineral refining, announced today that Novare Holdings Proprietary Limited ("Novare"), a South African-headquartered institutional investment firm, has committed to be the anchor investor in ReElement's private capital raise. This commitment will help unlock approximately $150 million in combined equity and debt financing to expand ReElement's refining operations at its 42-acre Marion, Indiana supersite - revitalizing the former RCA-Thomson television factory, once a symbol of American industrial strength. ReElement is proud to revive the facility as a hub for advanced manufacturing, signaling the return of high-value industry to the American heartland. ReElement's patented chromatographic separation platform was developed in partnership with and based on pioneering research from Purdue University, one of America's premier research institutions. ReElement has exclusively commercialized this technology and continues to collaborate actively with Purdue to refine and scale its application for critical mineral separation. The company has proven its capability at small commercial scale, delivering ultra-pure light and heavy rare earth oxides to U.S. and allied magnet manufacturers. This new capital enables ReElement to significantly increase output of high-purity elements essential for advanced technologies in both the commercial and defense sectors. The announcement marks a powerful example of how strategic foreign investment can accelerate U.S. innovation, industrial revitalization, and supply chain resilience. Novare's commitment to ReElement's domestic scale-up not only supports the growth of advanced American technology, but also demonstrates a forward-looking model for international partnership - one that bridges economic opportunity between Africa and the United States while reinforcing critical sectors tied to national and global security. The investment also deepens ReElement and Novare's ongoing partnership to deploy the same U.S. refining technology to Africa, announced this past February, where Novare's large capital commitment will fund the continent's first multimineral refining facility. By co-locating value-added processing and refining in Africa, this collaboration reverses the "extract-to-export" mining model, enabling local beneficiation, industrial development, high-skill job growth, and secure offtake of manufacturing-grade minerals by U.S. and allied supply chains. Mark Jensen, CEO and Chairman of ReElement Technologies, stated: "This is a historic moment. With Novare as our anchor investor, we are not just expanding capacity - we're reshaping the global critical minerals supply chain. Together, we're proving that African capital can invest in America's best technology, and that same technology can deliver lasting value back to Africa. The former RCA factory in Marion will once again power American industry, and Africa will rise as a full participant in high-value mineral processing." Ola Leepile, CEO of Novare Holdings, added: "Novare is proud to stand behind ReElement as it scales groundbreaking American technology. This investment reflects our belief that African institutional capital has a powerful role to play in global industrial transformation. We are backing U.S. innovation at home and abroad - supporting jobs and growth in Indiana and bringing long-overdue value addition and industrial development to the African continent." ReElement's refining platform - originally developed by Purdue for pharmaceutical purification - has been reengineered to separate rare earths and critical minerals with exceptional efficiency, scalability, and purity. Their patented, programmable platform handles multiple feedstocks and minerals, enabling rapid modular deployment across locations and resource types. Unlike legacy solvent extraction methods, it uses far fewer chemicals, requires less space, and generates minimal waste - making it faster to permit and simpler to co-locate near feedstock or end-use customers. This breakthrough eliminates a major chokepoint in global critical mineral supply chains, which has been dominated by single-source processing, no longer tenable as the U.S. must forge critical mineral supply chain independence, both through processing in the US and in partnership with allies abroad. With this capital infusion, ReElement moves decisively forward on its roadmap to become the world's leading independent processor of rare earth and critical minerals. Learn more about ReElement Technologies' process and technology here - Video. About ReElement Technologies Corporation ReElement Technologies Corporation 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 or connect with the Company on Facebook, Twitter, and LinkedIn. About Novare Novare is multi-disciplinary investment holding company headquartered in South Africa. The company is a leading provider of investment solutions to predominantly institutional clients on the African continent. The group's investment solutions which are provided through fully owned subsidiaries encompasses Real Estate Funds, Impact Investing Funds, Multi Managed Funds and Implemented Investment Consulting across a range of asset classes. The group has physical operations in five African countries namely South Africa, Nigeria, Mozambique, Mauritus and Zambia. For more information visit or connect with the Company on LinkedIn. About American Resources Corporation 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 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, LLCJenene Thomas(908) 824 - 0775arec@ Media Inquiries: Marjorie Weisskohl703-587-1532mweisskohl@ Company Contact: Mark LaVerghetta317-855-9926 ext. 0investor@ SOURCE: American Resources Corporation View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

ReElement Technologies Appoints Anthony Carroll to the Board of Directors of ReElement Technologies Africa Ltd. Subsidiary
ReElement Technologies Appoints Anthony Carroll to the Board of Directors of ReElement Technologies Africa Ltd. Subsidiary

Associated Press

time15-05-2025

  • Business
  • Associated Press

ReElement Technologies Appoints Anthony Carroll to the Board of Directors of ReElement Technologies Africa Ltd. Subsidiary

Tony Carroll brings over 40 years of experience in U.S.-Africa trade, policy, and investment, advising top institutions and shaping landmark economic development initiatives ReElement's modular, cost-effective, and non-toxic refining technology enables local value creation and rapid deployment near critical mineral resources across Africa FISHERS, IN / ACCESS Newswire / May 15, 2025 / American Resources Corporation (NASDAQ:AREC) ('American Resources' or the 'Company'), through its holding in ReElement Technologies Corporation ('ReElement'), a leading provider of high-performance refining capacity for rare earth, critical defense and battery elements, today announced the appointment of Anthony (Tony) Carroll to the Board of Directors of ReElement Technologies Africa Ltd. Mr. Carroll will help guide the Company via its partnerships within Africa to ensure that the partnerships are established with a long-term, mutual benefit for all stakeholders. Mark Jensen, Chief Executive Officer of ReElement Technologies commented, 'Tony Carroll's appointment to the ReElement Africa board is a tremendous honor for our company and a defining moment for our mission. His unmatched legacy in shaping U.S.-Africa trade policy, and unwavering commitment to U.S. - African partnerships will guide our efforts to build collaborative, community-rooted solutions. With Tony's leadership, we are not just scaling critical mineral refining-we are helping write a new chapter of shared prosperity between Africa and the United States.' Ben Kincaid, Chief Executive Officer of ReElement Technologies Africa commented, 'Tony brings unmatched expertise in U.S.-Africa trade, policy, and investment, along with decades of experience advising governments and global institutions. His strategic insight and leadership are invaluable as we scale ReElement Africa's mission to add value locally, build trusted partnerships, and deliver critical mineral solutions that serve both African and U.S. interests.' Tony Carroll commented, 'ReElement is putting world-class innovation from one of America's great research universities-Purdue-to work where it matters most. At a time when resilient, decentralized supply chains are urgently needed, this technology enables value-added refining in Africa and secures vital inputs for U.S. and allied manufacturing. I'm proud to join a team that sees the Africa-U.S. partnership as a cornerstone of a more effective and forward-looking supply chain model.' Anthony (Tony) Carroll brings more than four decades of experience at the intersection of U.S.-Africa trade, investment, and policy. A seasoned lawyer and international affairs consultant based in Washington, DC, Tony currently serves as a nonresident scholar with the Carnegie Africa Program. He is the founding managing director of Acorus Capital, a private equity fund focused on Africa, and a senior advisor at Manchester Trade, Ltd., a leading trade and investment advisory firm. He also frequently testifies before Congress on US-Africa economic relations. Tony's career began in Botswana as a Peace Corps volunteer from 1976-1978 and continued with his return to the agency as assistant general counsel from 1986-1989. Over the decades, he has advised global institutions including the World Bank, USAID, and other bilateral development agencies. He played a pivotal role in shaping major U.S. initiatives such as the African Growth and Opportunity Act (AGOA) and the President's Emergency Plan for AIDS Relief (PEPFAR). He currently serves on several boards, including the Wilson Center's Africa Program, the Global Community Engagement and Resilience Fund, and the Presidential Precinct. Tony was a senior associate at CSIS, a charter member of USTR's Trade Advisory Committee on Africa, and an adjunct professor at Johns Hopkins SAIS. He also serves as Director of Ministerial Relations for Mining Indaba, where he chairs the African Mining Ministerial Forum and has contributed to the conference's development since its inception. Tony has held advisory roles with EXIM Bank, OPIC, and USTR, and was nominated by Congress to the Board of the Millennium Challenge Corporation. His deep experience, policy leadership, and enduring commitment to Africa make him a vital voice on the ReElement Africa board as the company builds local value chains and long-term partnerships across the continent. ReElement Technologies Africa Ltd.'s Mission: A wholly owned subsidiary of ReElement Technologies Corporation, incorporated in the British Virgin Islands, and focused on partnering with local companies and nations on the African continent to unlock the value of the resources via partnership with local partners. Focus and Technological Attributes: ReElement utilizes its patented technology for the separation and purification phase of rare earth and critical battery material processing and refining that maximizes the surface area interface by using columns and resins, rather than toxic acids and solvents utilized in other hydrometallurgical processes. Utilizing its technology, ReElement is able to eliminate a significant amount of CapEx, operational footprint, environmental impact and use of chemicals to create separation and purification of rare earth and critical minerals versus using the legacy methods of solvent-based extraction methods. The technology was designed over decades from commercially operating processes in the separation and purification of fructose and glucose in the sugar industry to commercial production of insulin in the pharmaceutical industry. ReElement Technologies is committed to leading the domestic supply chain for refined rare earth and battery elements in the electrified economy and national security needs. The Company has proven that its patented chromatographic separation and purification is a low cost, scalable, flexible and environmentally safe replacement to the existing environmentally and socially toxic alternatives used around the globe for critical and rare earth element separation, purification and refining. As the Company executes and scales the production at its facilities, it will significantly reduce the United States' dependency on foreign nations for the supply of these critical raw materials while also creating 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 redefining how critical and rare earth elements are both sourced and processed while focusing on the recycling of end-of-life products such as rare earth permanent magnets and lithium-ion batteries, as well as coal-based waste streams and byproducts to create a low-cost and environmentally-safe, circular supply chain. ReElement has developed its innovative and scalable 'Capture-Process-Purify' process chain in conjunction with its licensed intellectual property including 16 patents and technologies and sponsored research partnerships with three leading universities to support the domestic supply chain's growing demand for magnet and battery metals. For more information visit or connect with the Company on Facebook, Twitter, and LinkedIn. About American Resources Corporation American Resources Corporation (NASDAQ:AREC) 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 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 [email protected] Media Inquiries: Marjorie Weisskohl 703-587-1532 [email protected] Company Contact: Mark LaVerghetta 317-855-9926 ext. 0 [email protected] SOURCE: American Resources Corporation press release

The African Energy Chamber (AEC) Endorses United States (U.S.) Energy Secretary Chris Wright's Support for African Energy Independence
The African Energy Chamber (AEC) Endorses United States (U.S.) Energy Secretary Chris Wright's Support for African Energy Independence

Zawya

time08-03-2025

  • Business
  • Zawya

The African Energy Chamber (AEC) Endorses United States (U.S.) Energy Secretary Chris Wright's Support for African Energy Independence

U.S. Secretary of Energy Chris Wright delivered a decisive message at the Powering Africa Summit in Washington, D.C., affirming that Africa must be free to harness its vast energy resources without foreign interference. The African Energy Chamber (AEC) ( as the voice of Africa's energy sector, fully supports this position, recognizing it as a turning point in Africa-U.S. energy relations under the new administration. Wright's remarks mark a shift from paternalistic policies to a partnership rooted in investment, trade and energy sovereignty. 'This government has no desire to tell you what you should do with your energy system,' Wright stated. 'It's a paternalistic, post-colonial attitude that I just can't stand.' His words challenge the years-long Western narrative discouraging African nations from developing coal, oil and natural gas while those same nations continue to rely on hydrocarbons to fuel their economies. The AEC has consistently pushed back against policies that stifle Africa's economic potential under the guise of climate concerns, and Wright's message signals a new era where Africa's right to energy security is recognized and respected. The shift in U.S. policy under the current administration aligns with the Chamber's long-standing call for trade over aid. Africa does not need handouts or restrictions; it needs capital, technology and infrastructure to fully exploit its resources and lift millions out of energy poverty. Over 600 million people on the continent still lack electricity, a crisis that cannot be solved with unrealistic energy transition policies imposed from abroad. Investment in oil and gas development, alongside renewables, is the only viable path to industrialization, job creation and long-term economic stability. The AEC calls on African leaders to seize this moment by fostering an investment-friendly, enabling environment that attracts capital to exploration and production, refining, trading, petrochemicals, gas monetization and infrastructure projects across the continent. Secretary Wright's remarks reinforce the need for African nations to take control of their energy destiny, using every available resources to power industries and modernize economies. Africa's energy investment prospects will take center stage at African Energy Week (AEW): Invest in African Energies 2025 in Cape Town, where African governments and industry leaders will engage global investors, drive deals and accelerate projects that prioritize energy independence. With U.S. policy now signaling support for Africa's right to develop its resources without restriction, AEW will showcase the investment opportunities that can transform Africa's energy sector. 'Africa's energy future must be decided in Africa, not dictated by foreign governments pushing policies that undermine our economic potential. Secretary Wright's message is a long-overdue recognition that Africa needs investment, not interference. The AEC welcomes this shift in U.S. policy and calls on African leaders to capitalize on this moment by accelerating oil and gas development, creating jobs and driving industrialization,' states NJ Ayuk, Executive Chairman of the AEC. The Chamber stands firm in its commitment to advocating for an Africa-first energy strategy – one built on pro-oil and gas policies, strong private sector participation and an end to counterproductive foreign interventions. Africa's future will not be dictated by outsiders; it will be shaped by bold leadership, strategic partnerships and an unrelenting drive to harness its energy wealth for the benefit of its people. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. Distributed by APO Group on behalf of African Energy Chamber.

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