American Resources says subsidiary American Rare Earth obtains Pending Certified B Corporation status through B Lab

American Resources Corporation (NASDAQ:AREC) announced Friday that its wholly-owned subsidiary American Rare Earth LLC has obtained Pending Certified B Corporation status through the B Lab. 

The company noted that Certified B Corporations are businesses that meet the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose. B Corps are accelerating a global culture shift to redefine success in business and build a more inclusive and sustainable economy.

“We’re proud that American Rare Earth has achieved Pending B Corp status,” said American Resources CEO Mark Jensen in a statement. “We believe this is another example of how we are always looking to innovate and think outside the box to drive efficiencies and real solutions.”

READ: American Resources enlists law firm to advance rare earth element interests with the federal government

He added: “Re-establishing our national supply chain of rare earth elements and critical materials is a broad problem that will take the collaboration of all stakeholders. Our ability to produce critical raw materials in an environmentally positive way is unique, and we are excited to do our part in providing efficient, comprehensive solutions that also have the highest standards of transparency, sustainability, and social and environmental good. We believe American Rare Earth greatly represents the type of company which qualifies as a B Corp and to lead us in an emerging economy.”

The parent company said American Rare Earth completed the B Impact Assessment (BIA) with the B Lab — a rigorous, comprehensive and industry-specific tool designed to measure its social and environmental impact. 

The BIA measures the operational impact and impact of a company’s business model amongst aspects such as governance, workers, community, environment, and customers to see if it can qualify as a B Corporation with a pending status. 

American Resources said its subsidiary received a score high enough to qualify as a Pending B Corporation and over the next 12 months will have the opportunity to work towards a Certified B Corporation by completing the performance requirements.

Meanwhile, the company said it continues to focus on running efficient streamlined operations to economically deliver raw materials in the most sustainable ways. By operating with low or no legacy costs and having one of the largest and most innovative growth pipelines in the industry, the company works to maximize value for its investors by positioning its large asset base to best fit a new-aged economy, while being able to scale its operations to meet the growth of the modern infrastructure markets it serves.

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Story by ProactiveInvestors