Atlantic Alumina Expands Partnership with United States Government, Reaching $800 Million in Total Funding to Advance U.S. Critical Mineral Independence
Atlantic Alumina Company LLC (“ATALCO” or the “Company”), the only remaining alumina refinery in the United States, today announced an expansion of its partnership with the Department of War’s ("DoW") Office of the Under Secretary of War for Acquisition & Sustainment, the Economic Defense Unit, and Concord Resources Holdings Limited (“Concord”), in conjunction with Concord’s majority shareholder, a fund managed by Pinnacle Asset Management, L.P. (“Pinnacle”), a leading commodities investment firm. The new funding, in the form of $350 million in preferred equity, brings total capital raised for the ATALCO facility in Gramercy, Louisiana and its critical mineral production to $800 million since the start of the year, split evenly between $400 million from the DoW and $400 million from private investors through Pinnacle’s fund.
Atlantic Alumina Announces $450 Million Strategic Partnership with United States Government to Secure U.S. Alumina Production and Build America’s First Large Scale Primary Gallium Production Circuit
Atlantic Alumina Company LLC (“ATALCO” or the “Company”), the only operating alumina refinery in the United States, today announced a partnership with the United States Department of War (“DOW”) and Concord Resources Holdings Limited (“Concord”), in conjunction with Concord’s majority shareholder, a fund managed by Pinnacle Asset Management, L.P. (“Pinnacle”), a leading commodities investment firm, to sustain and increase domestic alumina production and establish the country’s first and only large scale primary gallium production circuit in Gramercy, Louisiana.
