Creating an Efficient Rare Earth Element Circular Life Cycle (Using Ligand Assisted Displacement Chromatography)
Mark Jensen, Chairman and Chief Executive Officer, American Resources Corp.
We are at the onset of a massive global demand surge for rare earth elements (REEs) due to technological advancements, clean energy applications and the growth of the electrification movement. The REE market is relatively obscure and small, valued at approximately $13 billion USD per year, but these rare metals go into well over $5 trillion USD of finished products per year. Based on current projections, the REE market is expected to grow at a CAGR of approximately 11% with rare earth permanent magnet applications making up approximately 30% of the REE market share.
With China controlling such a large portion of the REE market, due to their indigenous REE reserves, low (subsidized) energy costs, low labor costs, and low environmental standards, REEs are currently being produced at a substantially lower cash cost then the rest of the world. For the United States to truly compete, we must innovate our way into a global competitive position and create and economically feasible and environmentally safe process.
American Resources Corporation has developed real solutions in conjunction with its sponsored research partnerships with three leading universities to bring innovative technologies to the domestic commercial market and to bring an economically viable and environmentally safe process chain onshore in order to get out from under the dependency of China for the refining of these increasingly important raw materials. Through its innovation and partnerships, American Resources is focusing on redefining how critical and rare earth elements are both sourced and processed throughout the world.
Throughout his 20+ year career, Mark C. Jensen has been an innovator in finance, operations and technology. He has consulted on complex mining and industrial turnarounds, created and co-managed his own micro-cap global infrastructure fund and built a leading metallurgical carbon mining company while transitioning it to an innovator in the rare earth and critical mineral collection and purification industry. Having managed through 2009 and 2015 downturns, he has been able to work with his team to significantly expand the Company’s asset base through strategic acquisitions and organic growth in a very accretive manner. In 2015, Mr. Jensen founded Quest Energy, Inc. which through a reverse-merger up-listed on Nasdaq as American Resources Corp. (Nasdaq: AREC), a leader in supplying raw materials to the infrastructure and electrification industry.