American Resources (AREC) said Friday that its ReElement Technologies unit increased its production capacity 50 times to meet customer demand for ultra-pure heavy rare earth oxides.
ReElement transitioned to demonstration-scale from lab-scale processing of SEG+ ore concentrate, which contains heavy rare earth elements that are recovered and refined for defense and commercial permanent magnets applications, the company said.
The company said ReElement validated the SEG+ sample material to produce magnet-grade dysprosium and terbium in a cost-effective way.
Shares of American Resources were up more than 12% in recent trading.
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