Century Aluminum Signs Power Agreement Extension with Santee Cooper Through 2031
CHICAGO, Oct. 06, 2025 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ:CENX) has signed an extension of its power agreement with South Carolina Public Service Authority (Santee Cooper) to secure a stable power supply for its Mt. Holly smelter through 2031, a critical step forward in its plans to re-start idle capacity at the facility located outside Charleston.
This power purchase agreement extension marks another milestone in the company's efforts to lead the comeback of the U.S. primary aluminum industry.
Century Aluminum's plan includes a $50 million investment to restart idle capacity, boosting production by 50,000 metric tons and increasing overall U.S. aluminum output by 10 percent. The expansion will create over 100 new jobs, allowing the plant—currently operating at 75 percent capacity—to reach full production by early summer 2026, a level not achieved since 2015.
The restart is driven by President Trump's support for the domestic aluminum industry, including the recent increases in Section 232 tariffs, with no exclusions or exceptions.
"This expansion at our Mt. Holly plant is thanks to President Trump's hard work to support American manufacturing, which is making it possible to create these important new manufacturing jobs for South Carolinians, along with the hundreds of millions of dollars of economic impact it will have on the surrounding communities where our employees live," said CEO Jesse Gary. "We're excited to lead the way in revitalizing U.S. aluminum production as Mt. Holly returns to full capacity."
At full operation, the Mt. Holly smelter contributes approximately $900 million annually to South Carolina's economy, with an average wage of $125,000 for the newly created jobs, according to a 2024 University of South Carolina study.
The company attributed this successful effort to its close collaboration with Santee Cooper. The parties worked cooperatively to reach the final agreement. The final details of the restart will be subject to the confirmation of economic incentives provided by Berkeley County and the state of South Carolina.
"I would like to thank the entire Santee Cooper team for their efforts in reaching this power extension to allow us to restart the idle capacity at Mt. Holly. We are excited to continue our relationship as we increase economic opportunity and prosperity for South Carolinians together," Gary said.
Santee Cooper President and CEO Jimmy Staton said, "Century Aluminum is a major contributor to economic prosperity in Berkeley County and the entire Charleston region, and they are playing a leading role in regenerating America's aluminum industry. Santee Cooper is proud to be the power behind Century, supporting the quality products they produce, the important contributions they make to our community, and the quality jobs they provide to our neighbors. We are pleased to be part of this expansion and look forward to working together for many more years."
About Century Aluminum
Century Aluminum is an integrated producer of bauxite, alumina, and primary aluminum products. Century is the largest producer of primary aluminum in the United States, and operates production facilities in Iceland, the Netherlands and Jamaica. Visit www.centuryaluminum.com for more information.
Cautionary Statement
This press release and statements made by Century Aluminum Company management on the quarterly conference call contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to the "safe harbor" created by section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). 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."
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, our 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, the reader is 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.
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