- Historical and cultural artifacts discovered on former mining site during land reclamation process
- The site has evidence that date this property back to around 7-800 A.D
- Company and Land Betterment have committed to help the local nonprofit with the establishment of a historical museum in the area to showcase the discoveries from this site with the added goal of job creation and historical-driven tourism
FISHERS, IN / ACCESSWIRE / April 26, 2022 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially responsible supplier of rare earth and critical elements, carbon and advanced carbon materials to the new infrastructure and electrification marketplace, today announced that it has partnered with Land Betterment Corporation ("Land Betterment") to support the development of a historical museum in Kragon, Kentucky lead by local leader and land owner Doug Terry and Kragon Historical Preservation, Inc. The museum will be located near the identified site of historical indigenous burial grounds dating back as far as 7 to 800 A.D. and showcase the history and findings of the site.
Mark Jensen, CEO of American Resources Corporation and Executive Chairman of Land Betterment commented, "We took this non-core property when American Resources' acquired Knott County Coal in 2016 during the bankruptcy of Arch Coal with the intent of removing the decaying coal loadout facility and related infrastructure that sat idle for over a decade, then fully reclaim the land to get the $700,000 of environmental surety bonds released. Once 90% of the work was completed and were approaching the final phase of remediation, the land owner and friend, Doug Terry, asked us to cease work following the discovery of what was believed to be a second ancient burial ground on the property underlying the land that would have been required to be excavated to complete the final stage remediation. This pause allowed Doug, his son Trevor and their team to complete their analysis, which turned out to be beyond expectations. Today, American Resources and Land Betterment are excited and proud to announce their collective support of the formation of Doug and Trevor's 501(c)(3), Kragon Historical Preservation, to help support the building of a museum and commit to support its cause and endeavors at this property in terms of highlighting its historical importance, as well as its related job creation, educational platform and potential to drive historical and cultural tourism to this beautiful region of the country."
Doug and Trevor Terry, founders of Kragon Historical Preservation, Inc., a 501(c)(3) nonprofit added, "I want to applaud the efforts of all involved here to uncover an amazing find of such historical importance. I want to say thank you to American Resources and Land Betterment for their commitment to environmental and community stewardship in the region while also holding the associated outstanding environmental reclamation bonds for an extended period during this unique and exciting process. I want to also thank them for their desire to support the future causes of the Kragon Historical Preservation project. This site is important to me on so many levels given its my birth place and also the site where blood, sweat and tears have been shed uncovering this amazing historical find. We look forward to the day when this project is fully open to the public so they can come and enjoy and learn the history of this site at our planned museum, as well as the tourism we hope to bring to this region."
Kragon Historical Preservation, Inc is in the final stages of formation of its 501(c)(3) nonprofit with the purpose of preserving and protecting the historical, cultural and sacred grounds of Kragon, Kentucky for the current and future generations to appreciate and protect! Kragon is a Fort Ancient Village located on a sharp bend of the North Fork River in Breathitt County near the town of Jackson. According to the 2008 Kentucky State Archaeological Report, this site meets the eligibility criteria for inclusion in the national record of historic places. Plans are for a museum to be built to display artifacts that have been recovered from this site and to be open for public viewing.
To support the cause and formation of an onsite museum, historical preservation and tourist and educational platform there will be a link available on www.kragon.org once the nonprofit has received their tax-exempt status from the IRS.
American Resources, while being responsible stewards of the environment, continues to focus on running efficient streamlined operations in being a new-aged supplier of raw materials to the infrastructure and electrification marketplace in the most sustainable of ways, while also helping the world achieve its goals of carbon neutrality. By operating with low or no legacy costs and having one of the largest and most innovative growth pipelines in the industry, American Resources Corporation works to maximize value for its investors by positioning its large asset base to best fit a new-aged economy, while being able to scale its operations to meet the growth of the markets it serves.
About American Resources Corporation
American Resources Corporation 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.
About Land Betterment Corporation
Land Betterment Corporation, an Indiana Benefit Corporation and Pending B-Corp, is an environmental solutions company focused on fostering a positive impact through upcycling former coal mining sites to create sustainable community development and job creation. The Company utilizes a complete solution-based lifecycle program to restore and rehabilitate the environment and revitalize communities in need of change and opportunity. Land Betterment accomplishes this by identifying un-reclaimed, run-down and neglected coal mining sites, fixing the environment through reclamation and remediation, and then repurposing the land to support a sustainable business that serves the community. Land Betterment firmly believes that with real solutions it is possible for restoration of impacted areas to live side-by-side long term employment, while building sustainable and safe surroundings for communities and our planet. For more information visit landbetterment.com or connect with the Company on Facebook, Twitter, and LinkedIn.
About American Rare Earth LLC
American Rare Earth 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. American Rare Earth 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 arareearthcorp.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.
PR Contact
Precision Public Relations
Matt Sheldon
917-280-7329
[email protected]
Investor Contact:
JTC Team, LLC
Jenene Thomas
833-475-8247
[email protected]
RedChip Companies Inc.
Todd McKnight
1-800-RED-CHIP (733-2447)
[email protected]
Company Contact:
Mark LaVerghetta
Vice President of Corporate Finance and Communications
317-855-9926 ext. 0
[email protected]
SOURCE: American Resources Corporation