Cassidy Applauds Trump Administration for Investing in Louisiana Alumina Refinery

WASHINGTON, D.C. - U.S. Senator Bill Cassidy (R-LA) applauded President Donald Trump, the United States Department of War, and Concord Resources Holdings Limited, in conjunction with Pinnacle Asset Management, L.P., for investing $450 million into the Atlantic Alumina Company LLC (ATALCO) in Gramercy, Louisiana, saving 500 Louisiana manufacturing jobs. In November, Cassidy urged the Administration to help keep our nation's last domestic alumina refinery, ATALCO, open.

"President Trump is committed to securing American jobs and American supply chains,"said Dr. Cassidy. "By keeping ATALCO open, we're saving 500 Louisiana jobs and cutting our reliance on China. That's a win for our state and a win for our country."

"This deal represents a strategic approach to bolstering our national security through critical mineral independence. We applaud the action taken by the U.S. government, including Sen. Cassidy and the Louisiana congressional delegation, in strengthening this region and our country,"said Jason Kellman, Chief Investment Officer, Pinnacle Asset Management, L.P.

"We are proud to collaborate with the United States Government as ATALCO expands domestic alumina and gallium production, marking a meaningful step forward in securing the United States' critical mineral supply,"said Scott Kellman, Managing Partner, Pinnacle Asset Management, L.P.

Background

Since 1959, alumina produced by ATALCO has been used as the essential raw material for aluminum metal required for American aerospace, defense, and automotive supply chains, while the Company'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 production of aerospace and defense systems, catalysts, semiconductors, and next-generation energy technology.

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