American Resources Corp announced a strategic partnership with Uzbekistan’s TMK LLC to source and refine tungsten, marking a significant shift toward critical minerals and diversification from its legacy coal operations.
Under the agreement, AREC will broker tungsten concentrate from TMK and its affiliates to ReElement Technologies, where the company holds a minority stake, and other U.S. partners for high‑purity refining. The partnership also establishes a Joint Working Group to conduct feasibility studies and coordinate investment structures for future collaboration on germanium, lithium, and rare‑earth elements.
The deal aligns with U.S. national‑security objectives to secure critical‑mineral supply chains and supports Uzbekistan’s ambition to boost tungsten production by 2030. By leveraging ReElement’s chromatographic separation technology, the partnership aims to deliver cost‑competitive, environmentally friendly tungsten products to U.S. customers.
American Resources reported a net loss of $8.67 million and revenue of $10,000 in Q2 2025, a sharp decline from the $235,443 revenue and $9.8 million loss reported in Q3 2024. The partnership is intended to offset these financial challenges by opening new revenue streams and reducing dependence on coal.
CEO Mark Jensen said, “This partnership exemplifies how technological innovation and trusted collaboration between nations can strengthen shared economic security. By combining Uzbekistan’s natural resource potential with ReElement’s advanced refining capabilities, we are building a foundation for a secure, scalable, and efficient supply of critical materials—starting with tungsten and expanding to germanium, lithium, and rare earth elements.”
Investors viewed the announcement favorably, reflecting confidence in the company’s pivot to critical minerals and the strategic value of securing a diversified supply chain. The partnership positions AREC to tap into growing domestic demand for critical minerals and could create new revenue streams as the company moves beyond its legacy coal operations.
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