Atlantic Alumina secures $800 million to bolster U.S. supply chains

Atlantic Alumina Company (Atalco) has secured a total of $800 million in public and private funding to revitalize the only remaining alumina refinery in the United States. The financing includes a $100 million follow-on preferred equity investment from the U.S. Department of Defense, bringing the Pentagon’s total investment in the company to $400 million. The remaining $400 million is provided by private investors through a fund managed by Pinnacle Asset Management.

Located in Gramercy, Louisiana, the refinery produces smelter-grade alumina essential for the aerospace, defense, and automotive industries, as well as chemical-grade alumina used in semiconductors and water treatment. More than 99% of the facility's current output is dedicated to national security subsectors.

The capital injection also supports Atalco’s expansion into domestic gallium production. The company has constructed a pilot facility and expects to deliver the first domestic primary gallium production this fall, with a target of 50 metric tons annually. This initiative aims to strengthen domestic supply chains for minerals considered strategically vital to industrial and defense manufacturing.