American Resources' ReElement Technologies and PSCO International form US rare earth joint venture

American Resources Corp (NASDAQ:AREC) announced that its affiliated minority company ReElement Technologies has formed a joint venture with South Korea's POSCO International to develop an integrated rare earth refining and permanent magnet manufacturing operation in the United States. The companies plan to invest about $200 million in the project, which is intended to establish a domestic supply chain spanning feedstock sourcing, separation, purification, and refining, and permanent magnet production.