American Resources enters lithium spodumene offtake for up to 20,000 mt/month

American Resources Corp

Agreement grants right of first refusal for 5,000 metric tons/month of 6%+ lithium spodumene ore, scaling to 20,000+ mt/month.
Ore will be refined via ReElement's patented chromatography into >99.9% pure battery-grade lithium carbonate/hydroxide.
Initial annual offtake 60,000 mt; expected to exceed 240,000 mt/year at full scale, yielding ~32,000–34,000 mt Li-carbonate.
Company evaluating site for large-scale South African refining facility to reduce logistics cost and carbon footprint.
Director Courtenay Taplin, also Managing Director of Clay Resources, had no role in American Resources' decision.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

American Resources Corp entered into Lithium Spodumene Ore Purchase Agreement with Clay Resources LLC Inc. (effective 2023-06-02).

Action: entry
Agreement: supply
Counterparty: Clay Resources LLC Inc.
Effective: 2023-06-02

Exact text from the filing

On June 2, 2023, American Resources Corporation (“American Resources” or the “Company”), entered into Lithium Spodumene Ore Purchase Agreement (“Purchase Agreement”) with Clay Resources LLC Inc. (“Clay Resources”).

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38 material agreements filed in the last 30 days. Browse all material agreements →

American Resources Corp filing history →

Source: SEC EDGAR

accession 0001654954-23-007812

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