Atlantic Alumina Secures $800 Million for U.S. Critical Mineral Production
Atlantic Alumina Company has raised $800 million to enhance U.S. critical mineral independence through an expanded partnership with the Department of War and private investors. The funding, including $350 million in preferred equity, will bolster alumina production essential for aluminum supply chains.
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Atlantic Alumina Company LLC has secured $800 million for its facility in Gramercy, Louisiana, with $350 million coming from an expanded partnership with the Department of War and Concord Resources Holdings Limited. The funding is split evenly, with $400 million from the Department and $400 million from private investors managed by Pinnacle Asset Management.
This partnership, which previously disclosed $450 million in funding, aims to support the production of smelter grade alumina, the sole U.S. source of this critical material. Atlantic Alumina anticipates producing up to 50 metric tons of gallium annually and plans to explore processing additional critical minerals from bauxite residue. The enhanced funding underscores the strategic importance of securing domestic supplies of critical minerals.
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