​Steel was integral to the Industrial Revolution and remains essential to structural and mechanical projects. Global steel demand is projected to reach 2.2 billion tons by 2025, a 15 percent increase from 2021.

Despite its utility, steel production generates significant carbon emissions. Iron and steel manufacturing emits 3.4 billion tons of carbon annually, contributing 7 percent of global emissions. While recycling steel helps reduce waste, addressing the industry's carbon footprint requires a larger transformation.

The steel sector aims for net-zero emissions by 2050 but faces steep challenges, including the need for $1.4 trillion in investments. This goal also depends on supportive global carbon policies. Currently, most carbon markets are developing and concentrated in mature economies. With China accounting for over 60 percent of steel-related carbon emissions, Beijing must implement aggressive carbon pricing and taxation to make a meaningful impact.

Countries like India could follow the European Union’s carbon border adjustment mechanism to accelerate change in steel-producing regions. However, these measures may have limited reach since only 20 percent of global steel consumption involves international trade.

Decarbonizing steel production requires innovation across the entire value chain, from mining to end-use. Achieving net zero by 2050 will demand that three-quarters of steel production use low-carbon technologies. Mining operations must collaborate with engineering firms prioritizing sustainability. For example, ElementUS, a joint venture between DADA Holdings and Exernova, extracts rare earth elements from bauxite residue using environmentally friendly methods. Similar innovative approaches and sufficient funding and commitment can drive the steel industry toward a sustainable future.

​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.

ElementUS Minerals qualified for Part II of a Department of Energy (DOE) Loans Program Office (LPO) $400 million application. The company’s main business is extracting and refining strategic minerals such as alumina, iron, and rare earth metals, from bauxite residue waste using a low-carbon-footprint process with zero mining impact. The DOE’s Part II Application for a loan guarantee falls under the U.S. Department of Energy (DOE) Title 17 lean Energy Financing Program.

Part I of ElementUS’ application for close to $400 million featured an analysis of the company’s process, business plan, and anticipated carbon footprint. The LPO’s invitation to the company to submit a Part II application for a loan acknowledges the former’s commitment to ensuring the project satisfies the technical eligibility requirements outlined in the applicable Loans Program Office solicitation. If ultimately successful, the DOE-guaranteed loan will provide funding for ElementUS’ construction of a commercial scale mineral processing plant in Louisiana.

Joe Carrabba, chief executive of ElementUS, described the news as the inevitable outcome of “thousands of man-hours, months of work by many individuals” on the team, and extensive data analysis. Acknowledging the work that lay ahead in Part II of the loan application, Mr. Carrabba conveyed optimism about continuing toward acceptance into the program.

The LPO process comprises completing and passing a few more steps that would lead to a commitment and eventual funding of a U.S. Department of the Treasury Federal Financing Bank loan guaranteed by the DOE. The department’s invitation to submit a Part II application is no guarantee that the DOE will invite ElementUS into the due diligence and term sheet negotiations, that the DOE will offer the company a term sheet, or that the term sheet terms and conditions are consistent with terms proposed by the company. These outcomes depend on the results of DOE review and evaluation of a Part II Application, and DOE’s decision whether to proceed.

​The ElementUSA team collaborated with the University of Texas at Austin’s Jackson School of Geosciences to address challenges in sustainability and environmental impact within energy and materials sectors. Research efforts revealed coal ash waste as a significant source of rare earth elements (REEs), offering new opportunities for resource recovery and reducing the environmental footprint of coal-powered industries.

Coal ash, the chalky byproduct of burned coal, has accumulated for decades across the US. Recent findings suggest the national coal ash supply contains enough REEs to meet domestic demand without requiring additional mining.

Bridget Scanlon, research professor at the school’s Bureau of Economic Geology, emphasized the importance of utilizing waste to recover valuable resources while reducing environmental impacts. REEs, comprising 17 essential chemical components, are critical for modern technology and the energy transition, as they are used in batteries, magnets, solar panels, and other energy-related technologies.

​Rare earth elements are essential in various technologies such as batteries, electric vehicles, cell phones, and defense systems. However, the United States faces a challenge due to its relatively low supply of these elements compared to China. Fortunately, several companies in the United States are working together to address this issue by implementing various strategies.

One key strategy involves establishing rare earth element (REE) mines and processing facilities, as well as recovering, recycling, and reusing REEs from electronics waste. This multifaceted approach aims to boost the domestic supply of these critical elements.

Forbes has highlighted some companies in the United States leading the charge in solving America's rare earth element challenges. These companies are taking innovative approaches, such as recovering REEs from already mined materials rather than starting from scratch.

Among these companies is ElementUS, a partnership between DADA Holdings and Enervoxa. DADA Holdings specializes in investments and management in the metals and mining sector, while Enervoxa is a Canadian green tech company. Together, they formed ElementUS to extract rare earth elements and other vital minerals from bauxite residue.

​The United States has unveiled its strategy to challenge China and break its dominance over rare earth metal prices and supply chains. These supply chains are crucial for producing essential raw materials used in electric vehicles, batteries, renewable energy systems, and more. A United States geological survey from 2019 revealed that China controlled roughly 80 percent of total rare earth imports.

Under the Biden administration, there's a renewed focus on bolstering the United States' position in the rare earth metal supply chain. President Biden has committed $2 trillion to an infrastructure initiative aimed at revitalizing the country's power and transportation sectors. The United States has also channeled huge investments toward climate change technology. These efforts aim to curb geopolitical rivalries and the national security threat from China. They will also boost the nation’s semiconductor industry.

President Biden has also issued an executive order to assess the vulnerabilities in domestic supply chains for rare earth metals and other essential resources.

​On September 5, 2023, ElementUS Minerals, an American company specializing in the extraction and refining of essential minerals such as iron, alumina, and bauxite, announced its invitation to submit Part II of the application for a loan guarantee under the United States Department of Energy (DOE) Title 17 Clean Energy Financing Program. This announcement followed ElementUS' successful completion of Part I of the $400 million loan application process.

Part I of ElementUS' loan application involved a comprehensive analysis of the company's extraction and refining processes, a review of the business plan, and an assessment of its projected carbon footprint. The invitation to submit Part II of the application reflects the Loan Programs Office’s (LPO) commitment to ensuring that the project meets all technical eligibility requirements outlined in the applicable LPO solicitation.

In his address, Joe Carrabba, the CEO of ElementUS, expressed profound gratitude and appreciation for the tireless efforts of the ElementUS team, who dedicated thousands of hours, months of work, and extensive data analysis to ensure the success of the loan application. He emphasized that the ElementUS team eagerly anticipates acceptance into the Department of Energy Loan Programs.

​In March 2021, ElementUS Minerals, LLC, announced its approval by the Louisiana Public Facilities Authority (LPFA) for the allocation of tax-exempt private activity bond issuance. This approval, part of the anticipated $850 million total debt approved for facility construction, marks a significant milestone for ElementUS Minerals.

James W. Parks II, president and CEO of the LPFA, stated in a press release that the LPFA is pleased to assist ElementUS with the necessary financing for this exciting economic development opportunity and appreciates its investment in Louisiana.

With the financial backing from the state of Louisiana, ElementUS has continued to extract valuable rare earth elements and minerals from residual bauxite at DADA’s alumina refinery in Gramercy, Louisiana, while deploying Enervoxa technology to separate residual bauxite into its component materials.

ElementUS operates as a rare earth elements and minerals extraction joint venture between DADA Holdings and Enervoxa, a multi-integrated infrastructure and renewable energy construction company based in Canada with operations worldwide.