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

Rhea-AI Summary

ReElement Technologies, a subsidiary of American Resources Corporation (NASDAQ:AREC), has appointed Anthony Carroll to the Board of Directors of ReElement Technologies Africa Ltd. Carroll brings over 40 years of experience in U.S.-Africa trade, policy, and investment. As a nonresident scholar with the Carnegie Africa Program and founding managing director of Acorus Capital, Carroll's expertise will guide ReElement's partnerships in Africa. ReElement's technology offers a modular, cost-effective, and environmentally friendly approach to refining rare earth and critical battery elements, using patented chromatographic separation instead of toxic acids. The company aims to establish local refining facilities across Africa for processing lithium, cobalt, nickel, niobium, and rare earth elements, focusing on creating value chains and long-term partnerships while supporting both African and U.S. interests.

Positive

• Appointment of Anthony Carroll brings 40+ years of expertise in U.S.-Africa trade and policy
• Technology offers low CapEx and OpEx solution for mineral refining
• Environmentally friendly process using less energy, water, and chemicals than traditional methods
• Enables local value creation through in-country mineral processing

Negative

• None.

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:

• Efficiently build local refining facilities in partner nations to process lithium, cobalt, nickel, niobium, rare earth elements and other critical elements and minerals;

• High-performing refining technology which is a modular and scalable enabling the company to expand capacity as feedstock/production expands;

• Process is low CapEx and low OpEx enabling an efficient, cost effective and win-win solution;

• Process uses lower energy, water and chemical then traditional hydrometallurgical or solvent-based separation and purification methods enabling an environmentally friendly method of purification and refining; identical to the Company's sites operated within the Unite States; and

• Enables local mineral enrichment to bring the value step to the resource rich nations, thereby creating additional value for the nations' resources in country while fostering enhanced economic diplomacy.

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 reelementtech.com 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 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
AREC@jtcir.com

Media Inquiries:

Marjorie Weisskohl
703-587-1532
mweisskohl@allseasonspr.com

Company Contact:

Mark LaVerghetta
317-855-9926 ext. 0
investor@americanresourcescorp.com

SOURCE: American Resources Corporation

View the original press release on ACCESS Newswire

FAQ

Who is Anthony Carroll and what is his role at ReElement Technologies Africa?

Anthony Carroll is a newly appointed Board Director of ReElement Technologies Africa Ltd., bringing over 40 years of experience in U.S.-Africa trade, policy, and investment. He will guide the company's African partnerships to ensure long-term mutual benefits for all stakeholders.

What is ReElement Technologies' (AREC) refining technology for critical minerals?

ReElement Technologies uses a patented chromatographic separation and purification process that employs columns and resins instead of toxic acids and solvents. This technology is modular, scalable, and environmentally friendly, requiring lower energy, water, and chemical usage than traditional methods.

What is ReElement Technologies Africa's business model and mission?

ReElement Technologies Africa focuses on partnering with local companies and nations across Africa to build efficient refining facilities for processing lithium, cobalt, nickel, niobium, and rare earth elements. Their mission is to create local value chains while fostering enhanced economic diplomacy.

How does AREC's ReElement technology differ from traditional mineral refining methods?

ReElement's technology uses chromatographic separation instead of toxic acids and solvents, offering lower capital and operating expenses, smaller environmental footprint, and reduced chemical usage compared to traditional hydrometallurgical or solvent-based separation methods.