- To Secure Domestic Alumina Supply and Establish Nation’s First Large-Scale Primary Gallium Production
- Investment strengthens U.S. critical mineral independence and supports aerospace, defense, semiconductor, and energy supply chains
WASHINGTON, D.C. — Atlantic Alumina Company LLC (ATALCO), the only operating alumina refinery in the United States, today announced a $450 million strategic partnership with the United States Department of War (DOW) and Concord Resources Holdings Limited, alongside Concord’s majority shareholder, a fund managed by Pinnacle Asset Management, L.P. The investment will sustain and expand domestic alumina production and enable construction of America’s first large-scale primary gallium production circuit at ATALCO’s facility in Gramercy, Louisiana.
The partnership represents a significant investment in the nation’s sole alumina refinery and is designed to strengthen the U.S. supply of critical minerals essential to aerospace and defense systems, advanced semiconductors, and next-generation energy technologies.
Since its commissioning in 1959, ATALCO-produced alumina has served as a foundational input for aluminum used across American aerospace, defense, and automotive supply chains. The company’s chemical-grade alumina also supports critical industries aligned with national security interests, including catalysts for oil and gas refineries, refractories, fire suppressants, semiconductor ceramic casings, and municipal water treatment. Both alumina and gallium are classified as essential minerals for high-tech manufacturing and defense applications.
With support from the Department of War, the State of Louisiana, and Louisiana’s congressional delegation, the partnership underscores ATALCO’s strategic role in securing the nation’s critical mineral supply chain. Once fully operational, the Gramercy facility is expected to produce more than one million metric tons of alumina annually and up to 50 metric tons of gallium per year, supported by a 500-person, highly skilled workforce, the majority of whom are members of the United Steelworkers.
“Aligning essential public-sector support with private-sector investment will secure onshore supplies of alumina and gallium—commodity markets currently dominated by China,” ATALCO said in a statement. “This partnership demonstrates how quickly and decisively the United States can act to protect long-term national security and economic resilience.”
Meeting America’s Critical Mineral Needs
Through this investment, ATALCO will provide a secure and reliable domestic supply of alumina to U.S. customers, including aluminum smelters and manufacturers across multiple critical industries. The company will also become capable of meeting the full domestic gallium demand signal, including requirements from the Department of War and U.S.-based technology innovators.
The revitalization and expansion of the Gramercy site will secure more than 500 high-value jobs in Louisiana while restoring the facility to nameplate production and advancing the design and construction of a new gallium production circuit. The project represents a critical step toward reducing U.S. reliance on foreign sources for strategic minerals.
Public-Private Investment Strengthens U.S. Supply Chains
As part of the agreement, the Department of War’s Industrial Base Analysis and Sustainment (IBAS) program has invested $150 million in preferred equity in ATALCO. Additional U.S. government funding is expected to close within 30 days. Pinnacle, through its investment via Concord, has committed more than $300 million in private capital to the project.
“For more than a decade, our investment philosophy has focused on strengthening U.S. supply chains for critical minerals and essential commodities,” said Jason Kellman, Chief Investment Officer of Pinnacle Asset Management. “This strategic partnership plays a meaningful role in advancing America’s critical mineral security.”
Scott Kellman, Managing Partner at Pinnacle, added, “Beyond expanding ATALCO’s core operations, this investment unlocks long-term growth opportunities, including enhanced mineral processing and power generation capabilities that further reinforce the resilience of America’s materials supply chain.”
Advisors
- Aprio Advisory Group, LLC – Financial and transaction advisor to Pinnacle and Concord
- Goldman Sachs & Co. LLC – Financial advisor to Concord
- Linklaters – Legal advisor to ATALCO and Concord
- Paul, Weiss, Rifkind, Wharton & Garrison LLP – Legal advisor to Pinnacle
About Atlantic Alumina
Atlantic Alumina (ATALCO) is the only producer of alumina in the United States, a critical input for aluminum production and other non-commodity applications essential to national security and industrial markets. Commissioned in 1959, ATALCO’s production facility is located in Gramercy, Louisiana. Discovery Bauxite Operations Limited (DBOL), part of Atlantic Alumina, operates a dedicated mining joint venture—Discovery Bauxite Partners (DBP)—with a wholly owned agency of the Government of Jamaica, with the capacity to mine and export up to 5.2 million metric tons of bauxite annually to the United States.
Learn more at www.atalco.com.
About Pinnacle Asset Management
Founded in 2003, Pinnacle Asset Management, L.P. is a New York-based alternative asset management firm focused on global commodities markets, with approximately $6 billion under management. The firm provides institutional investors exposure to physical and financial commodities through absolute return strategies.
About Concord Resources Holdings Limited
Concord Resources Holdings Limited is a global natural resources company founded in 2015. The company wholly owns Atlantic Alumina and Concord Resources Limited, a global commodity merchant focused on non-ferrous metals and associated minerals.
Media Contact:
Gasthalter & Co.
Pinnacle@gasthalter.com
(212) 257-4170



