American Resources Corp., in conjunction with a third-party metal aggregating and processing company, has begun receiving and processing retired coal railcars to be recycled for their metal content and reused for alternative, modern-day purposes. American Metals LLC’s partnership provides for the allocation and processing of the decommissioned railcars, and the company is initially utilizing certain areas of its Indiana property, including its rail spur, for storing and staging areas for the railcars to be processed and ultimately transported to be recycled.
“As an important part of our overall strategy of being a leading supplier of raw materials to the growing global infrastructure space, we continue to find ways to expand our metal recovery business,” Chairman and CEO Mark Jensen said. “Our innovation provides us with various ways of maximizing the value of our assets, and our goal of broadening the raw material products we can offer our valued customer base.
“By leveraging our American Metals subsidiary and continuing to build out our business lines in forward-looking industries that supply the infrastructure market, we believe we have the ability to not only expand our revenue, but also create further diversification for our shareholders.”
The Indiana property is a decommissioned thermal coal mine located in Greene County, Indiana, that is currently undergoing a complete environmental reclamation and remediation. It once served as a baseload supplier of thermal coal to a regional utility provider, however, with the transition away from coal-based fuels, it became an unviable mine. Given its centralized location among various coal fields and regional steel mills, it has proven to be ideal for an aggregation and processing location for the railcars to be recycled and reused in the steel markets, the company said.