EGA, Century Aluminum enters joint development agreement

1 week ago 12

TipRanks

Tue, January 27, 2026 astatine 7:05 AM CST 2 min read

Emirates Global Aluminium and Century Aluminum (CENX) Company entered into a associated improvement statement to physique the archetypal caller superior aluminum accumulation works successful the United States since 1980. Under the associated improvement agreement, EGA volition ain 60 percent of the associated venture, with Century owning the remaining 40 percent. The caller plant, to beryllium built successful Inola, Oklahoma arsenic antecedently announced by EGA, is expected to nutrient 750,000 tonnes of aluminum per year, larger than antecedently envisioned and much than doubling existent U.S. production. The Inola works volition make 1,000 imperishable nonstop jobs astatine the installation and 4,000 jobs during construction. The concern combines EGA’s expertise successful aluminum smelting plan and technology, operation and cognition with Century’s extended past and expertise operating aluminum smelters successful the United States utilizing home proviso chains. The task volition usage EGA’s latest EX technology. Both parties volition present solely absorption their greenfield improvement efforts successful the United States connected the Inola, OK site. Once complete, the Inola works volition beryllium the largest ever superior aluminum accumulation works successful the U.S., and the archetypal built successful astir 50 years. About 85 percent of the aluminum needs of American industries are presently met by imports. The caller smelter volition grow the home proviso of this captious mineral and turn the American aluminum workforce, revitalizing U.S. aluminum expertise and know-how. Construction of the task is expected to commencement by the extremity of 2026. Production is expected to statesman by the extremity of the decade. Detailed engineering enactment is already underway and negotiations with Public Service Company of Oklahoma and the authorities of Oklahoma connected a competitory semipermanent powerfulness proviso are progressing.

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Century Aluminum terms people raised to $61 from $46 astatine Wells Fargo
Century Aluminum terms people raised to $46 from $37 astatine Wells Fargo
Century Aluminum initiated with a Buy astatine Texas Capital

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