Century Aluminum Signs Power Agreement Extension with Santee Cooper Through 2031

CHICAGO, Oct. 06, 2025 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ:CENX) has signed an extension of its power agreement with South Carolina Public Service Authority (Santee Cooper) to secure a stable power supply for its Mt. Holly smelter through 2031, a critical step forward in its plans to re-start idle capacity at the facility located outside Charleston.

This power purchase agreement extension marks another milestone in the company’s efforts to lead the comeback of the U.S. primary aluminum industry.

Century Aluminum’s plan includes a $50 million investment to restart idle capacity, boosting production by 50,000 metric tons and increasing overall U.S. aluminum output by 10 percent. The expansion will create over 100 new jobs, allowing the plant—currently operating at 75 percent capacity—to reach full production by early summer 2026, a level not achieved since 2015.

The restart is driven by President Trump’s support for the domestic aluminum industry, including the recent increases in Section 232 tariffs, with no exclusions or exceptions.

“This expansion at our Mt. Holly plant is thanks to President Trump’s hard work to support American manufacturing, which is making it possible to create these important new manufacturing jobs for South Carolinians, along with the hundreds of millions of dollars of economic impact it will have on the surrounding communities where our employees live,” said CEO Jesse Gary. “We’re excited to lead the way in revitalizing U.S. aluminum production as Mt. Holly returns to full capacity.”

At full operation, the Mt. Holly smelter contributes approximately $900 million annually to South Carolina’s economy, with an average wage of $125,000 for the newly created jobs, according to a 2024 University of South Carolina study.

The company attributed this successful effort to its close collaboration with Santee Cooper. The parties worked cooperatively to reach the final agreement. The final details of the restart will be subject to the confirmation of economic incentives provided by Berkeley County and the state of South Carolina.

“I would like to thank the entire Santee Cooper team for their efforts in reaching this power extension to allow us to restart the idle capacity at Mt. Holly. We are excited to continue our relationship as we increase economic opportunity and prosperity for South Carolinians together,” Gary said.

Santee Cooper President and CEO Jimmy Staton said, “Century Aluminum is a major contributor to economic prosperity in Berkeley County and the entire Charleston region, and they are playing a leading role in regenerating America’s aluminum industry. Santee Cooper is proud to be the power behind Century, supporting the quality products they produce, the important contributions they make to our community, and the quality jobs they provide to our neighbors. We are pleased to be part of this expansion and look forward to working together for many more years.”