Citing Benefits of 232 Tariffs, Century Aluminum Announces Restart to Bring Mt. Holly SC Plant to Full Production, Increasing U.S. Aluminum Production by 10%
Rhea-AI Summary
Century Aluminum (NASDAQ:CENX) has announced plans to restart over 50,000MT of idled production at its Mt. Holly, South Carolina smelter, representing a 10% increase in U.S. domestic aluminum production. The company will invest $50 million in the initiative, creating over 100 new jobs with an average salary of $100,000.
The facility, currently operating at 75% capacity, will reach full production by June 30, 2026. This restart is directly attributed to the Section 232 tariffs on aluminum imports, which were recently increased to 50%. The project's implementation depends on finalizing agreements with Santee Cooper for power supply through 2031 and confirming economic incentives from local authorities.
Positive
- Investment of $50 million to restart idled production capacity
- Creation of 100+ new high-paying jobs with average salary of $100,000
- 10% boost to U.S. domestic aluminum production capacity
- Economic impact of $890 million annually in South Carolina at full capacity
- Power supply agreement extension through 2031 with Santee Cooper
Negative
- Full restart contingent on finalizing agreements and economic incentives
- Significant dependence on continuation of protective tariffs for operational viability
- Extended timeline to reach full production (June 2026)
News Market Reaction
On the day this news was published, CENX gained 1.63%, reflecting a mild positive market reaction. Argus tracked a peak move of +15.5% during that session. Our momentum scanner triggered 6 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $37M to the company's valuation, bringing the market cap to $2.32B at that time.
Data tracked by StockTitan Argus on the day of publication.
CHICAGO, Aug. 07, 2025 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ:CENX) has announced plans to restart over 50,000MT of idled production at its Mt. Holly, SC smelter. Century will invest approximately
The restart comes as a direct result of President Trump’s application of Section 232 tariffs for primary aluminum, most recently increasing the tariffs to
“Today’s announcement was made possible by President Trump’s commitment to onshoring manufacturing of critical metals, protecting America’s national security, and to protecting American workers in our industry whose expertise is needed to ensure future generations do not have to rely on foreign supplies to build our communities and grow our economy,” said CEO Jesse Gary. “Our team stands ready to continue leading the resurgence of domestic primary aluminum, starting with bringing our Mt. Holly smelter back to full production.”
At full capacity Mt. Holly smelter has an economic impact of over
The restart was made possible with the help of South Carolina Public Service Authority (Santee Cooper), Mt. Holly’s power supplier. The parties worked cooperatively to reach an agreement in principle to extend the current contract through 2031 to purchase the additional power necessary for the restart. The final details of the restart will be subject to a definitive agreement with Santee Cooper, along with confirmation of economic incentives provided by Berkeley County and the state of South Carolina.
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.
INVESTOR CONTACT
Ryan Crawford
investorrelations@centuryaluminum.com
(312) 696-3132
MEDIA CONTACT
Tawn Earnest
614-698-6351
communications@centuryaluminum.com
FAQ
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