Century Aluminum (CENX), EGA Partner to Build $4B Oklahoma Smelter, First New US Facility Since 1980

1 month ago 21

Maham Fatima

Wed, February 4, 2026 astatine 8:04 AM CST 2 min read

Century Aluminum Company (NASDAQ:CENX) is 1 of the inexpensive blistery stocks to put successful close now. On January 26, Century Aluminum announced that it is acceptable to instrumentality a 40% involvement successful a JV with Emirates Global Aluminium/EGA to physique the archetypal superior aluminum smelter successful the US successful astir 50 years. Located successful Inola, Oklahoma, the task is expected to impact an concern of ~$4 billion, with EGA retaining the remaining 60% ownership. Construction is scheduled to statesman by the extremity of 2026, with accumulation aimed to commencement earlier the decennary concludes.

The concern accrued the smelter’s planned yearly capableness from 600,000 to 750,000 metric tons, a determination that would much than treble full US aluminum output. This enlargement is designed to trim the country’s dense reliance connected imports, which presently fulfill astir 85% of home concern demand. The task is expected to make 1,000 imperishable jobs astatine the tract portion supporting an further 4,000 positions during the operation phase.

Century Aluminum (CENX), EGA Partner to Build $4B Oklahoma Smelter, First New US Facility Since 1980

Pixabay/Public Domain

The inaugural aligns with broader efforts to enactment home accumulation of aluminum, a designated captious mineral, pursuing the doubling of import tariffs to 50% past year. These economical conditions person pushed the Midwest aluminum premium to grounds highs, creating a favorable situation for home manufacturing.

Century Aluminum Company (NASDAQ:CENX), unneurotic with its subsidiaries, produces and sells standard-grade and value-added superior aluminum products successful the US and Iceland.

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