ARC

Overview

ARC is a diversified mineral and infrastructure group. Its primary operations are coal mining and processing, with additional investments in material recovery and rare earth technologies.

Operations and products

• Operates seven mining and processing subsidiaries:
  • McCoy Elkhorn Coal LLC (doing business as McCoy Elkhorn Coal Company)
  • Knott County Coal LLC
  • Deane Mining, LLC
  • Wyoming County Coal LLC
  • Perry County Resources (Perry County)
  • ERC Mining Indiana Corporation (ERC)
• Core coal products:
  • Metallurgical coal for steelmaking
  • Pulverized coal injections (PCIs) used in steelmaking
  • High-BTU, low-sulfur, low-moisture bituminous coal for industrial uses and specialty products

Other businesses

• Electrified Materials Corporation (EMC): aggregation, recovery, and sale of recovered metal and steel; remains fully consolidated and controlled by ARC.
• American Rare Earth LLC (ARE), renamed ReElement Technologies LLC (ReElement): purification and monetization of critical rare earth elements and end-of-life magnets and batteries. In 2024 ARE changed its name to ReElement Technologies LLC and ReElement converted from a limited liability company to a corporation.
• ARC seeks investment and operating opportunities in new technologies across the mineral and infrastructure sectors.

Corporate history and governance

• January 5, 2017: ARC executed a Share Exchange Agreement with Quest Energy Inc.; control of ARC transferred to Quest Energy shareholders on February 7, 2017; Quest Energy became a wholly owned subsidiary.
• November 25, 2020: Quest Energy changed its name to American Carbon Corp. (ACC).
• December 27, 2024: American Carbon changed its name to American Infrastructure Corporation (AIC).
• December 25, 2025: ARC determined it was no longer the primary beneficiary of AIC and was not required to consolidate AIC’s financial reporting.
• December 26, 2025: ReElement determined not to be a variable interest entity; ARC had no ongoing requirement to consolidate ReElement.

Geographic footprint and properties

• Principal office: 12115 Visionary Way, Fishers, Indiana 46038.
• ARC office lease: $9,178 per month; lease expires June 2034; subject to annual escalations.
• EMC leases:
  • Office space in Hazard, Kentucky (1845 Highway 15 South): $263 per month; expires December 2028.
  • Outdoor storage space in Noblesville, Indiana: $20,000 per month; expires December 2028.
  • Production, office, and outdoor storage space in Marion, Indiana (611 South Adams Street): $20,559 per month; expires December 2028; escalations apply annually.

Employees and offices

• Seven direct employees company-wide.
• Headquarters in Fishers, Indiana, with four members of the executive team based there.

Market and competition

• Competes in the global markets for critical minerals, rare earth elements, and coal.
• Domestic competitors include MP Materials, Lithium Americas, Ramaco Resources, Arch Resources, Contura Energy, and Warrior Met Coal.
• Competes internationally with coal producers in China, Australia, Colombia, Indonesia, and South Africa.

Financial reporting and legal

• ARC is subject to ordinary routine litigation; see financial statement Note 11 for case details.
• Mine safety disclosures required under the Dodd-Frank Act and Regulation S-K are included in Exhibit 95.1.

Summary

ARC primarily operates coal mining and processing subsidiaries in the Central Appalachian region and Indiana, and holds businesses focused on metal recovery and rare earth technologies. The company has undergone a series of corporate restructurings and name changes and maintains a presence in Indiana and Kentucky through offices and leased facilities.