The Executive Director of the American Samoa Economic Development Council (ASEDC) John Wasko has confirmed that a reported Memorandum of Understanding for a mineral refinery for deep sea nodules found in the American Samoa region was not with the American Samoa Development Authority.
Rather the MOU between the company, American Resources Corporation was with ASEDC, a local group that’s exploring seabed mining and refining industry opportunities for American Samoa.
A press release last week had said that the MOU was between American Resources Corporatio and its subsidiary ReElement Technologies and ASEDA. However the Acting Chairman of ASEDA, Senator Magalei Logovii said no such MOU had been signed and ASEDA supports the position of the Governor, Congresswoman and Fono to oppose sea bed mining near American Samoa.
Wasko said yesterday the press release contained an error, wrongly identifying ASEDA when it should have stated that the MOU was with their group, ASEDC. American samoa Economic
The MOU highlights the joint commitment to explore a non-China critical mineral supply chain, focusing on essential elements such as copper, cobalt, nickel, manganese, and rare earth elements.
The collaboration also includes exploring options to leverage existing Defense Department infrastructure and enhancing the global critical mineral value chain.
Mark Jensen, CEO and Chairman of ReElement, expressed excitement about bringing ReElement’s advanced refining capabilities to this mission, while John Wasko, Executive Director of ASEDC, emphasized the potential economic benefits and critical mineral dominance for American Samoa.
In another development, it was reported over the weekend that American Resources Corporation saw a significant pre market rise of 13.39% , driven by strategic partnerships and initiatives aimed at enhancing its critical mineral supply chain.
