WASHINGTON— Atlantic Alumina Company LLC, the nation’s only operating alumina refinery, announced a $450 million strategic partnership with the U.S. Department of War and private investors to expand domestic alumina production and establish the country’s first large-scale primary gallium production circuit at its facility in Gramercy, Louisiana.
The partnership combines $150 million in preferred equity from the federal government through the Department of War’s Industrial Base Analysis and Sustainment program with more than $300 million in private capital from a fund managed by Pinnacle Asset Management, L.P., the majority shareholder in Atlantic Alumina through Concord Resources Holdings Limited.
The investment aims to strengthen the U.S. supply of alumina and gallium—critical minerals essential for aerospace, defense systems, semiconductors, and clean energy technologies—amid growing concerns about reliance on foreign suppliers, particularly China.
“With this alignment of public sector support and private sector investment, the United States is taking decisive action to secure onshore supply of alumina and gallium,” Atlantic Alumina said in a statement. “This partnership underscores how quickly and effectively America can act to ensure long-term national security and economic resilience.”
The project is expected to restore and expand operations at Atlantic Alumina’s Gramercy refinery, which has produced alumina since 1959. Once the expansion is complete, the facility is projected to produce more than one million metric tons of alumina annually and up to 50 metric tons of gallium. The investment will sustain over 500 skilled jobs represented by the United Steelworkers.
Louisiana Governor Jeff Landry and Louisiana Economic Development Secretary Susan B. Bourgeois described the agreement as a “significant win” for both the state and the nation.
“This project advances national security, supports advanced manufacturing, and reduces dependence on foreign supply chains dominated by China,” the officials said in a joint statement. “It reflects the power of alignment between federal priorities and state-level execution.”
Jason Kellman, chief investment officer at Pinnacle Asset Management, said the partnership fits with the firm’s decade-long focus on reinforcing the U.S. critical minerals supply chain. “This strategic partnership plays an important role in strengthening our country’s critical minerals supply,” he said.
In addition to increasing mineral processing and power generation capabilities at the site, the project is designed to enhance domestic resilience in materials essential to national defense and advanced industries.
Advisors on the transaction included Aprio Advisory Group for Pinnacle and Concord, Goldman Sachs & Co. LLC for Concord, Linklaters for Atlantic Alumina and Concord, and Paul, Weiss, Rifkind, Wharton & Garrison LLP for Pinnacle.
Atlantic Alumina, established in 1959, operates the United States’ only alumina refinery in Gramercy, Louisiana, and supplies alumina for aluminum production and industrial uses including catalysts, refractories, and semiconductors. Its mining operations in Jamaica, through Discovery Bauxite Partners, provide up to 5.2 million metric tons of bauxite annually for processing in the United States.