American Resources’ ReElement enters MOU with Pensana

American Resources (AREC), along with its holding in ReElement Technologies, announced the signing of a Memorandum of Understanding with Pensana (PNSPF), a company developing the Longonjo rare earth project. The MOU outlines a framework for a long-term partnership that combines Pensana’s world-class mineral resource with ReElement’s refining platform to create a globally competitive, sustainable, and independent rare earth supply chain. Key terms of the MOU include: A shared commitment to developing a collaborative partnership aimed at establishing a sustainable, non-China rare earth supply chain to meet the rising global demand. A proposed offtake of up to 20,000 tonnes per annum of ultra-clean Mixed Rare Earth Carbonate from the Longonjo mine over a five-year period, with pricing to be agreed. Strategic cooperation between ReElement and Pensana to strengthen and secure the global rare earth value chain and explore additional joint opportunities. Leverage of the Lobito Corridor in Angola for low-cost, efficient access to global export markets. Integration of ReElement’s advanced refining platform, which offers a high-throughput, low-waste, and cost-effective process to produce ultra-pure separated rare earth oxides. Since 2023, ReElement has been refining rare earth materials commercially and for customer validation at its Noblesville, Indiana facility. The company continues to expand capacity, including major development at its large-scale Marion, Indiana supersite, to meet growing demand from U.S. and allied defense and commercial industries.