Century Aluminum Co Dossier
Qualitative Analysis
Business overview
Century Aluminum Company (NASDAQ: CENX) is a leading producer of primary aluminum, operating aluminum reduction facilities (smelters) in the United States and Iceland. The company also owns and operates a carbon anode production facility in Vlissingen, the Netherlands, and holds a joint venture interest in bauxite mining and alumina refining in Jamaica (Jamalco). Century's primary business model centers on the production of standard-grade and value-added primary aluminum products. A significant portion of its sales is conducted with related parties, primarily Glencore, exposing the company to customer concentration dynamics.
Research as of 19 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
Restarting over 50,000 metric tons of idled production (the last 90 pots) at the Mt. Holly smelter in South Carolina to bring the facility to full production capacity.
Expected impact: Increases total U.S. primary aluminum production by approximately 10% and creates over 125 jobs in South Carolina.
Accelerated repair and restart of the damaged electrical transformers at the Norðurál smelter in Grundartangi, Iceland, following an equipment failure in October 2025.
Expected impact: Restores two-thirds of the plant's total capacity (320,000 tonnes per year) approximately six months earlier than the original replacement timeline.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Strategic Partnerships
To build the first new primary aluminum production plant in the United States since 1980, located in Inola, Oklahoma. The plant will produce 750,000 tonnes of aluminum per year, doubling current U.S. production capacity.
Terms: EGA will own 60% of the joint venture, and Century Aluminum will own 40%. Construction is expected to start by the end of 2026, with production beginning by the end of the decade.
Sale of the idled Hawesville, Kentucky smelter site to TeraWulf for redevelopment into a digital infrastructure campus supporting high-performance computing and artificial intelligence workloads.
Terms: Century Aluminum received $200,000,000 in cash and retains a 6.8% non-dilutive minority equity interest in Raylan Data Holdings LLC (the affiliate owning the data center).