The stock of American Resources Corp (NASDAQ: AREC) rose by a margin of 3.77% to finally settle at $3.03. This company has been cooperating with Purdue University in a sponsored research partnership targeted at achieving maximum purity levels of Neodymium (Nd). The two relied upon a chromatography process and technology to ensure maximum purity levels in the rare earth element (REE). It is a technology commonly referred to as ligand-assisted displacement, and it is licensed exclusively.
The purification process
It was a rather complex undertaking separating and isolating the inherent Neodymium to achieve purity levels playing around 99.5 percent. The parties embarked on a recycling undertaking of waste magnets, and it is a great move succeeding at achieving a figure of 99.5 percent purity. The figure represents the appropriate position that defines top-quality permanent magnet manufacturing.
The CEO of American Resources Corporation, Mark Jensen, speaks out about the technology they have been employing. It is a technology that could be described in three elaborate words-Capture, Process, and Purify.
Jensen applauds the cooperation, outlining that they are finally at a point where they can claim to have found a game-changer strategy for the manufacture and commercialization of permanent magnets. The possibility to excavate isolated, rare earth elements at maximum purity levels is a major milestone for the collaboration. The production of permanent magnets and their commercialization comes with its challenges, but overcoming the barriers to reach set targets has been fulfilling for both parties.
The cooperation with Purdue University, according to Jensen, has been remarkable. This official admits that the technology partner has been very supportive, which is how they achieved such outstanding outcomes. It was a significant achievement reaching the set targets at an environmental standard and cost position that is rather competitive on a global scale. It is a moment of great pride and excitement, considering that the demand for the rare earth elements keeps escalating. It currently moves at 2% a year.