05:00 AM EDT, 10/10/2024 (MT Newswires) -- American Resources' ( AREC ) ReElement Technologies subsidiary and IRIS Metals said Thursday that they have signed a memorandum of understanding for downstream lithium conversion and the production of battery-grade lithium carbonate equivalent.

The memorandum involves potential future spodumene concentrate production following IRIS Metals production of 6% spodumene concentrate from a lithium project in South Dakota.

The deal is aimed at turning IRIS Metals' spodumene concentrate into battery-grade lithium carbonate using ReElement's proprietary processes at its 42-acre facility in Indiana beginning next year.

"The parties are positioned as an imminent new domestic supplier of lithium carbonate," the companies said.

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