March 5, 2021: Port of South Louisiana
Gov. John Bel Edwards joined DADA Holdings Chairman and CEO David D’Addario and Enervoxa CEO Vandit Verma to announce that ElementUS, a joint venture of DADA and Enervoxa, will make an $800 million capital investment to extract rare earth elements at the Noranda Alumina site in Gramercy, Louisiana, subject to a final investment decision within the next year.
The Port of South Louisiana is delighted at the prospect of welcoming a new stakeholder into the port district. This new venture will be using byproducts from Noranda to extract rare earth minerals and other commodity metals, such as iron, titanium and additional alumina. The port is also excited about the potential 200 new jobs for the residents of the River Parishes and the increased job security for the over 400 Noranda Alumina employees.
DADA Holdings owns Gramercy-based Noranda Alumina and is partnering with green technology firm Enervoxa to separate rare earth elements and other valuable minerals from alumina byproducts. The Gramercy site has a 35 million dry-ton reserve of mineral-rich residual bauxite. The carbon-neutral project would result in an average annual salary of more than $85,000, plus benefits. Louisiana Economic Development estimates an additional 590 new indirect jobs would result, for a total of nearly 800 new jobs in Louisiana’s Southeast Region and surrounding areas.
Read more about the announcement