News: Suppliers
13 January 2026
Public–private partnership investing $450m in ATALCO’s alumina refinery and USA’s first large-scale primary gallium production
Atlantic Alumina Company LLC (ATALCO), the only operating alumina refinery in the USA, has announced a partnership with the United States Department of War (DOW) and Concord Resources Holdings Ltd, in conjunction with Concord’s majority shareholder (a fund managed by commodities investment firm Pinnacle Asset Management L.P.), to sustain and increase domestic alumina production and establish the USA’s first large-scale primary gallium production circuit in Gramercy, Louisiana.
Since 1959, alumina produced by ATALCO has been used as the essential raw material for aluminium metal required for American aerospace, defense, and automotive supply chains, while the firm’s chemical-grade alumina has supplied important industries aligned with the national interest, including catalysts for oil and gas refineries, refractories, fire suppressants, ceramic casing for semiconductors, and municipal water treatment. Both alumina and gallium are essential minerals for the production of aerospace & defense systems, catalysts, semiconductors, and next-generation energy technology.
With the support of leadership from the DOW, the Governor of Louisiana, and members of Congress from Louisiana, ATALCO says that the partnership underscores its unique ability to secure the future of critical mineral production in the USA. The firm expects to produce over 1 million metric tons of alumina per year and up to 50 metric tons of gallium per year with its 500 majority-United Steelworkers workforce in Gramercy, Louisiana.
“Aligning this essential public sector support with private sector investment will secure onshore supply of alumina and gallium, which are contested commodity market segments currently dominated by China,” says ATALCO. “This deal shows how quickly and decisively America can act to ensure long-term national security and economic resilience.”
Meeting America’s critical mineral needs
ATALCO will provide a secure supply of alumina to its customers in the USA, including aluminum smelters and critical mineral consumers in diverse industries, becoming capable of meeting the total gallium demand signal of the USA including the DOW and domestic innovators. The revitalization of the Gramercy site should secure more than 500 jobs in Louisiana as ATALCO brings its existing facility back to nameplate production while designing and constructing a new gallium production circuit. This strategic partnership is regarded as an essential step in reducing reliance on foreign nations for critical minerals.
Strategic investment through public and private collaboration
The DOW’s Industrial Base Analysis and Sustainment program has invested $150m of preferred equity in ATALCO. Additional funding from the US Government is expected to close within 30 days of the equity closing. As the majority shareholder in ATALCO via Concord, Pinnacle’s fund has invested more than $300m in private capital.
“For the past decade, our investment philosophy has centered on bolstering the US supply chain for critical minerals and other commodities,” says Jason Kellman, chief investment officer, Pinnacle Asset Management L.P. “This strategic partnership plays an important role in strengthening our country’s critical minerals supply,” he adds.
“In addition to the core expansion of the ATALCO facility, this investment unlocks significant growth potential, including increasing the site’s mineral processing and power generation capabilities, all of which contributes to the long-term security of America’s materials supply chain,” says Scott Kellman, managing partner, Pinnacle Asset Management L.P.
