09:40 AM EDT, 09/09/2025 (MT Newswires) -- American Resources ( AREC ) said Tuesday that its unit ReElement Technologies has received a $2 million award from the US Department of Defense (DoD) to expand domestic refining capacity for rare earth elements used in defense applications.

The funding, provided by the DoD's Industrial Base Analysis and Sustainment program, will support ReElement's chromatographic separation platform, which aims to establish a fully domestic and allied supply chain for rare earth purification, the company said.

Shares of the company were up more than 12% in recent early Tuesday trading.

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