Atlantic Alumina welcomes the advancement of 45X advanced manufacturing credits
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Update time : 2024-01-29 16:13:59
Atlantic Alumina and Concord Resources welcome the issuance of guidance on the United States Inflation Reduction Act (IRA) 45X Advanced Manufacturing Production Credits. The Department of the Treasury and the Internal Revenue Service recently issued guidance on the United States Inflation Reduction Act (“IRA”) - 45X Advanced Manufacturing Production Credit, a significant legislation that supports continued domestic production and further advancement of critical minerals and products.
Atlantic Alumina is pleased that the Gramercy alumina refinery will qualify for the 45X credits under the critical minerals section of this legislation. Section 45X(c)(6) of the Inflation Reduction Act 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, which includes the production of aluminium oxide (alumina).
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