Trading House Concord Buys Alumina Plant in Bet on U.S. Revival

Concord Resources Ltd., a trading house set up six years ago to challenge the dominance of Glencore Plc and Trafigura Group in metals markets, acquired its first major asset with a deal to take control of a U.S. alumina plant.

The London-based merchant is buying a controlling stake in the Noranda Alumina refinery at Gramercy, Louisiana, as well as an associated bauxite mine in Jamaica, from from DADA Holdings LLC, Chief Executive Officer Mark Hansen said. Concord previously bought a 12% stake in the business in 2018.

The deal will give Concord access to an additional 600,000 tons of ...