SEATTLE (Scrap Monster): Century Aluminum Company has reached a preliminary agreement on the principal terms of a new 3-year power contract with the South Carolina Public Service Authority (Santee Cooper) at its Mt. Holly aluminum smelter facility. It has been decided to extend the current contract, which is due to expire by end-2020, by another three months, in order to provide sufficient time to finalize the new contract and obtain the necessary regulatory approvals.
The new contract is expected to provide a minimum of 290 megawatts of electric power. This will allow the facility to boost its current production by almost 50%, thus helping the company achieve 75% of the full production capacity at the smelter. The new contract is expected to commence in April 2021 and run through December 2023, subject to receipt of all necessary approvals.
Michael Bless, President and Chief Executive Officer, Century Aluminum noted that the unwavering commitment of Mt. Holly’s employees, their families and the entire community has provided the company with the opportunity to seek a power agreement, which in turn will ensure continued operation of the plant. The addition of one-half potline will result in hiring of additional 70 people, he added.