American Resources, ReElement sign tungsten supply chain deal with Uzbekistan

[99.95% fine tungsten]
Bjoern Wylezich

American Resources (AREC [https://seekingalpha.com/symbol/AREC]) +2.5% in early trading Monday after saying it is teaming with ReElement Technologies in a strategic partnership agreement with Uzbekistan's TMK LLC to develop a critical mineral value chain [https://seekingalpha.com/pr/20300553-american-resources-corporation-and-reelement-technologies-forge-strategic-partnership-with] between Uzbekistan and the U.S., beginning with the sourcing of tungsten concentrates in Uzbekistan and refining them into high-grade tungsten in the U.S.

Under the agreement, American Resources (AREC [https://seekingalpha.com/symbol/AREC]) said it will broker tungsten concentrate from TMK and its affiliates and supply concentrate to ReElement Technologies and other U.S. partners for refining into high-purity tungsten to meet the growing needs of the U.S. government and its industrial base.

As part of the framework, the companies said they will establish a joint working group to develop technical and financial feasibility studies, define investment structures, and coordinate the implementation of projects.

"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," American Resources (AREC [https://seekingalpha.com/symbol/AREC]) Chairman and CEO Mark Jensen said.

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