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Aluminum July 20, 2021 01:55:33 PM

Century Aluminum Announced Extension of Power Contract for Iceland Smelter

Paul Ploumis
ScrapMonster Author
The extension will address increasing power requirements at the facility and also drive its future growth towards a world-class smelter.

Century Aluminum Announced Extension of Power Contract for Iceland Smelter

SEATTLE (Scrap Monster): The Century Aluminum subsidiary in Iceland announced extension of power contract for its Grundartangi aluminium smelter. The fully-owned subsidiary of the company, Norðurál Grundartangi ehf, reached an agreement with Landsvirkjun, the National Power Company in Iceland, by which the existing 161 megawatt power contract will be extended for three years through 2026.

According to the agreement, the contract will be increased to 182 megawatt over this period. This, in turn, will support capacity expansion drive by the company as well as future growth opportunities for value-added products at the plant.

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Jesse Gary, President and CEO, Century Aluminum said that the company is pleased to reach an agreement with Landsvirkjun. He personally thanked Hörður Arnarson, Chief Executive Officer of Landsvirkjun, and his team for their hard work on finalizing this agreement to reinforce the continued partnership in support of the long-term future of aluminium industry in Iceland. The extension will address increasing power requirements at the facility and also drive its future growth towards a world-class smelter.

Meantime, the company has set the date for Q2 2021 earnings announcement as Wednesday, August 4, 2021 after market closing, which will be webcast live on the company website.

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