American Resources (AREC) and its ReElement Technologies unit entered into an antimony stibnite tolling agreement to process stibnite ore at ReElement's Indiana facilities, producing ultra-pure Antimony(III) sulfide or oxide, the company said Thursday.
The purified antimony will support domestic defense and commercial industries under a two-year contract with automatic renewal.
Initial tolling fees and revenues are expected to surpass $29 million annually, with strong growth potential, the company said.
Shares of American Resources were down over 4% in recent trading.
Price: 0.51, Change: -0.02, Percent Change: -4.51
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