​The Noranda Alumina site in Gramercy, Louisiana, received an $800 million investment to support the extraction of rare earth elements (REEs). This funding comes from a joint venture between DADA Holdings, an alumina mining company, and Exernova, a green technology firm. The aim is to separate REEs and other valuable minerals from alumina by-products.

ElementUS’s Gramercy facility contains a reserve of 35 million dry tons of mineral-rich residual bauxite. The carbon-neutral project is expected to create 200 direct jobs, with average salaries over $85,000 plus benefits. Additionally, Louisiana Economic Development anticipates around 590 new indirect jobs, bringing the total to nearly 800 new positions in Louisiana’s Southeast Region.

The Louisiana Governor has cited ElementUS as an example of a business applying new technology to achieve a lower-carbon future and capitalize on the state’s industrial workforce and resources. This aligns with Louisiana’s 2020 Climate Initiative Task Force goals.

As the demand for REEs continues, finding sustainable methods for extracting and commercializing these minerals can reduce the U.S. economy's dependence on China, especially for critical technologies and national defense needs.

​The US Department of Energy's (DOE) Loan Programs Office invited ElementUS Minerals to submit a Part II application for a loan guarantee under the Title 17 Clean Energy Financing Program. ElementUS developed a process to extract and refine strategic minerals such as alumina, iron, and rare earth elements from bauxite residue waste, with a focus on low carbon emissions and no mining impact.

In Part I of the application, ElementUS detailed its process, business plan, and projected carbon footprint for a loan of approximately $400 million. The invitation to Part II indicates the DOE's determination that the project meets the technical eligibility criteria outlined in the Loan Programs Office (LPO) solicitation. If the application succeeds, the DOE will provide financial support for constructing a commercial-scale mineral processing plant in Louisiana.

ElementUS CEO Joe Carraba noted the extensive effort behind the application, with employees dedicating thousands of hours and conducting detailed data analysis to advance the process. The LPO requires further steps to complete the process, which, if approved, would lead to a loan from the US Department of the Treasury's Federal Financing Bank, guaranteed by the DOE.

​Concord Resources Limited purchased a portion of DADA Holdings, LLC’s aluminum operation. The company of interest was the parent of Noranda Bauxite, Noranda Alumina, and NICHE Industrial Chemicals. The resulting transaction allowed Concord to substantially grow its equity stake in the operation, while DADA retained a majority ownership of operations elsewhere relative to Concord’s minority shareholding in said operations.

David D’Addario, chairman and majority shareholder of DADA Holdings, highlighted the successful turnaround of previously bankrupt assets into a functional business. He attributed this transformation to deliberate strategies aimed at maximizing returns for stakeholders. D’Addario emphasized Concord’s role as a strong strategic partner poised to lead the aluminum operations into a sustainable future.

DADA intends to focus on industrial opportunities worldwide, particularly in regions expected to experience long-term growth. This includes its partnership with ElementUS Minerals, LLC, on a $1 billion initiative to extract rare earth elements and critical minerals in the United States using environmentally sustainable methods.