Century Aluminum Reaches Agreement On New Three-Year Mt. Holly Power Contract; Will Begin On January 1, 2024 And Run Through December 2026; Contract Provides For 295MW Of Electric Power, Allowing The Smelter To Continue Operating At Its Current Capacity
Portfolio Pulse from Happy Mohamed
Century Aluminum Company (NASDAQ:CENX) has reached an agreement on a new three-year power contract for its Mt. Holly aluminum smelter. The contract, which provides for 295MW of electric power, will begin on January 1, 2024, and run through December 2026, allowing the smelter to continue operating at its current capacity.
October 23, 2023 | 8:14 pm
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The new power contract ensures Century Aluminum's Mt. Holly smelter can continue operating at its current capacity, which could stabilize the company's production output and potentially its revenues.
The new power contract is crucial for Century Aluminum as it ensures the continued operation of the Mt. Holly smelter at its current capacity. This could stabilize the company's production output, which in turn could stabilize its revenues. Therefore, this news is likely to have a positive impact on the company's stock.
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