The Pentagon has taken a $150mn stake in a Louisiana-based gallium company as Washington tries to shore up supplies of materials essential to defence manufacturers and to counter Chinese dominance of supply chains.
Atlantic Alumina Co said on Monday the Pentagon’s investment would be followed by more government funding within 30 days of the preferred equity purchase closing. Commodities investment firm Pinnacle will also invest $300mn in Atalco.
The US’s major defence contractors have been concerned about sourcing gallium, which is critical for systems including radars, missile seekers, satellites and radio systems.
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