Century Aluminum Company
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Century Aluminum Company (CENX) investor relations material

Century Aluminum Company 35th BMO Global Metals, Mining & Critical Minerals Conference summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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35th BMO Global Metals, Mining & Critical Minerals Conference summary24 Feb, 2026

Strategic initiatives and asset updates

  • Announced a joint venture with EGA to build a 750,000 MT aluminum smelter in Oklahoma, the first in the U.S. in 50 years, aiming to double domestic capacity and strengthen supply chains, with EGA holding 60% and Century 40%.

  • The Oklahoma project is supported by a $500 million DOE grant, with first hot metal production targeted by end of 2029 and final investment decision expected in Q4 2026.

  • Operating smelters in Kentucky, South Carolina, and Iceland, with a new facility planned in Oklahoma; upstream integration in Jamaica with bauxite mining and alumina refining targeting 1.4 million tons capacity.

  • Mount Holly restart will increase U.S. production by 10% and is scheduled for completion by end of June; Grundartangi (Iceland) restart is six months ahead of schedule, to be completed by end of July.

  • Sale of idle Hawesville site to TeraWulf yielded $200 million upfront cash and a 6.8% non-dilutive interest in a future data center, with energization expected in the second half of 2027.

Financial performance and outlook

  • Q1 guidance at $225 million realized prices, with potential $80 million uplift from spot prices and normalized power costs, totaling $300 million quarterly run-rate EBITDA.

  • Q1 2026 adjusted EBITDA outlook is $215–$235 million at estimated realized prices, with potential to exceed $300 million quarterly at spot pricing.

  • Mount Holly restart expected to add 50,000 tons, with payback anticipated before year-end due to favorable pricing.

  • Achieving 770,000 tons annualized capacity by mid-summer, marking full utilization for the first time in nearly a decade.

  • Key earnings drivers include LME and delivery premiums, U.S. Midwest and European Duty Paid Premiums, and energy and raw material costs.

Market environment and pricing

  • Strong U.S. demand supported by tariffs, with no negative impact on consumption since 2018.

  • Global supply constrained by China’s 45 million ton cap and disciplined production, supporting elevated prices.

  • Midwest premium and European premiums remain robust, covering import costs.

Inola FID: Key remaining hurdles
Capital allocation post-organic investments
Hawesville put option: De-risk future projects?
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Next Century Aluminum Company earnings date

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Q1 20266 May, 2026
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Frequently asked questions

Century Aluminum Company is a producer of primary aluminum, operating smelters in the United States and Iceland. The company supplies high-purity aluminum products for various industries, including automotive, aerospace, construction, and packaging. Century Aluminum manages the entire production process, from sourcing raw materials to smelting and casting aluminum into standard and customized forms. The company is headquartered in Chicago, Illinois, and its shares are listed on the NASDAQ.

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