Atlantic Alumina Welcomes the Final Rules on 45X Advanced Manufacturing Credits
November 7, 2024, Gramercy, Louisiana: Atlantic Alumina thanks the United States Government (USG) for the issuance of final guidance on the United States Inflation Reduction Act (IRA) 45X Advanced Manufacturing Production Credits. The Department of the Treasury and the Internal Revenue Service issued final guidance on the IRA 45X Advanced Manufacturing Production Credit, laws that support continued domestic production and further advancement of critical mineral products.
The USG supporting whole mineral supply chains and not just finished product production demonstrates its understanding that critical minerals cannot be produced overseas and then simply smelted into products – the United States must have a firm foothold in the entire production chain as much as possible – which is what Atlantic Alumina does for the aluminum supply chain in the United States.
The Gramercy alumina refinery is the sole American producer of aluminum oxide (alumina). Under Section 45X(c)(6) of the Inflation Reduction Act, which provides a list of 50 minerals that when converted or purified to specified purities are considered an “applicable critical mineral” for purposes of the 45X Advanced Manufacturing Production Credit. The final definitions on eligible costs greatly assist to keep the Gramercy Refinery competitive and supporting its USW Louisiana based workforce, its customers, and all its stakeholders in Louisiana and beyond, while strengthening American trade and critical mineral production capabilities.
Mark Hansen, CEO, noted: "unlike some other companies in the aluminum industry, Atalco welcomes the support this provides for all aluminum producers while also not incentivising aluminum producers to source aluminum oxide produced outside of the United States. Without American alumina production here in Louisiana, there can be no true whole aluminum supply chain, and the United States would be fully dependent on imported aluminum oxide".
Contact: Communications@ATALCO.com