Century Aluminum Reaches Agreement on New Three-Year Mt. Holly Power Contract

CHICAGO, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Century Aluminum of South Carolina (CASC), a wholly-owned subsidiary of Century Aluminum Company (NASDAQ: CENX), announced today it has finalized, and received all necessary approvals for, a new, three-year power contract with the South Carolina Public Service Authority (also known as Santee Cooper) for the Mt. Holly aluminum smelter. The contract will begin on January 1, 2024 and run through December 2026. The contract provides for 295MW of electric power, allowing the smelter to continue operating at its current capacity.

Jesse Gary, Century’s President and Chief Executive Officer, said, “We are excited to have reached final agreement on this new contract that will allow us to maintain operations at our Mt. Holly plant, preserve the approximately 465 jobs for our employees, and continue to contribute to the economic success of the surrounding community. I would like to personally thank our colleagues at Santee Cooper for their hard work and cooperation in reaching this agreement.”

About Century Aluminum Company

Century Aluminum Company owns primary aluminum capacity in the United States and Iceland. Century's corporate offices are located in Chicago, IL. Visit www.centuryaluminum.com for more information.  

Cautionary Statement

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are statements about future events and are based on our current expectations. These forward-looking statements may be identified by the words "believe," "expect," "hope," "target," "anticipate," "intend," "plan," "seek," "estimate," "potential," "project," "scheduled," "forecast" or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," "might," or "may." Our forward-looking statements include, without limitation, statements with respect to: our expectations with respect to Mt. Holly’s future production levels and financial and operating performance, our projected staffing levels and future hiring activity; our expectations with respect to the restart of curtailed capacity at Mt. Holly including the associated timing and cost estimates; global and local financial and economic conditions; future aluminum pricing and the costs of our major raw materials; and the impact that these factors may have on the future financial and operating performance of Century and its subsidiaries. Where we express an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, our forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from future results expressed, projected or implied by those forward-looking statements. Important factors that could cause actual results and events to differ from those described in such forward-looking statements can be found in the risk factors and forward-looking statements cautionary language contained in our Annual Report on Form 10-K, quarterly reports on Form 10-Q and in other filings made with the Securities and Exchange Commission. Although we have attempted to identify those material factors that could cause actual results or events to differ from those described in such forward-looking statements, there may be other factors that could cause actual results or events to differ from those anticipated, estimated or intended. Many of these factors are beyond our ability to control or predict. Given these uncertainties, investors are cautioned not to place undue reliance on our forward-looking statements. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.

Contact

Ryan Crawford
(Investors and media)
312-696-3132