Formerly the chairman and CEO of New Day Aluminum LLC, David D’Addario functions as the chairman and principal of ElementUS Minerals, LLC, a holding of DADA Holdings, LLC, where he serves as the chairman and CEO. As such, David D’Addario is focused on building a Gramercy, Louisiana, plant capable of the annual processing of 1 million tons of bauxite residue, a byproduct of aluminum production, into critical metals and valuable rare earth elements (REE).
This initiative will not only sustainably eliminate some 30 tons of bauxite residue at Atlantic Alumina Company (ATALCO) in Gramercy, but also generate jobs and revenue. While critical metals and REE comprise about 20 percent of the total revenue value of the bauxite residue, the remaining 80 percent of expected revenue will be generated by the downstream production of coagulants, pigments, and sorbents. This approach delivers a diversified, risk-adverse product stream that accommodates market demand and promises to create at least 200 new direct green jobs. With the total benefit including nearly 600 indirect employment opportunities throughout Southeast Louisiana, the project has qualified for the Louisiana Economic Development (LED) incentive program. Folded within this are the LED Quality Jobs and LED FastStart Workforce Development programs. Additionally, the project will receive industrial tax exemption incentives and qualify for the Louisiana Research and Development Tax Credit program. One milestone achieved in 2022 involved the Louisiana Public Facilities Authority’s (LPFA’s) approval of the issuance of “a significant allocation” of private activity bonds that are tax exempt and will go toward facility construction. The state governor subsequently issued an executive order that formally granted the bond allocation. As a company official described it, incentivizing development projects that enable economic and sustainability goals to be met is an innovative, future-focused pathway forward.
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AuthorDavid D'Addario - Growth-Focused Metals Executive. Archives
October 2023
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