American Resources Adds 16,000MT Refining Capacity; Arecor Nets $0.5M Milestone
American Resources expanded its Marion refinery to four production lines with 16,000 metric tons annual rare earth oxide capacity, on budget and set for Q3 2026 startup. Arecor Therapeutics received a $500,000 Ligand milestone under its AT220/AT292 royalty deal, the first of up to $4 million in milestones.
1. Marion Refinery Expansion
American Resources has expanded Phase 1 of its Marion, Indiana refining campus to four production lines capable of processing recycled and primary feedstocks, delivering more than 16,000 metric tons of separated, high-purity oxide annually. The project remains on schedule and under budget, with initial production slated for the third quarter of 2026 and full Phase 1 commissioning by year-end.
2. Arecor Royalty Milestone Payment
Arecor Therapeutics received a $500,000 milestone payment from Ligand Pharmaceuticals under its royalty financing agreement for AT220 and AT292, marking the first tranche toward a total of up to $4 million in future milestones. This payment follows a September 2025 deal in which Arecor sold global royalty rights to AT220 and related rights to AT292 for $7 million upfront plus potential milestone payments.