The metals trading startup benefited from the turmoil in aluminum and alumina markets following sanctions on Russian producer United Co. Rusal.
Concord Resources Mining News
Investors are benefiting from a panicked realization across the aluminum industry that the supply chain is fragile.
The stake comes as New Day Aluminium Holdings LLC completes a $110 million refinancing and as it readies two major expansion projects in Louisiana.
In the miner's fifth supply deal, Concord will take approximately 5 percent of production when it begins in the third quarter at the Century Zinc Mine.