Century Aluminum Company to Acquire 55% Interest in Jamalco Alumina Refinery
CHICAGO, April 25, 2023 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) today announced that it has entered into an agreement with Noble Group Holdings Limited (“Noble”) to acquire Noble’s 55% ownership interest in Jamalco, a bauxite mining and alumina production joint venture in Jamaica. Jamalco has annual alumina production capacity of approximately 1.4 million tonnes and employs over 900 people. Pursuant to the terms of the agreement, a wholly owned subsidiary of Century will acquire General Alumina Holdings Limited, a Noble subsidiary and owner of Noble’s 55% interest in Jamalco, for $1. The transaction is expected to close by the end of April 2023.
“This acquisition is highly strategic for Century as it secures a predictable, long-term supply of alumina, our most critical raw material and achieves increased transparency and control of our supply chain,” said Jesse Gary, President and CEO of Century. “Acquiring this interest in Jamalco allows us to integrate our aluminum smelting operations with this critical upstream supply of bauxite and alumina to create a more balanced and robust operational footprint, resulting in an organization that is better positioned to deliver strong performance through industry cycles.
“Jamalco is a well-known and well-regarded organization with a world class operational team. It has historically proven its competitive advantages through its consistent production of high-quality alumina, strategic geographic footprint in the Atlantic alumina market, and strong corporate culture focused on safety, integrity and employee well-being,” continued Mr. Gary. “We believe this acquisition will ultimately provide Century and our stockholders with a meaningful opportunity for long-term value creation. We are very excited to add this high-potential asset to our portfolio and we look forward to working with our new joint-venture partners, Clarendon Alumina Production Limited.”
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 for more information.
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Contact
Peter Trpkovski
(Investors and media)
312-696-3132
Source: Century Aluminum Company
