Century Aluminum lauds US Treasury ACT Section 45X aimed at improving USA’s primary aluminium industry

Century Aluminum Company, a leading player in the U.S. primary aluminium industry, has recently expressed its appreciation towards the U.S. Treasury Department for issuing interpretive guidance on Section 45X of the Inflation Reduction Act. This new guidance specifically focuses on the implications of the act for the U.S. primary aluminium industry.

The announcement was made in Chicago on December 15, 2023, highlighting the company's positive reaction to the latest move by the federal government. This development is considered significant for the U.S. primary aluminium industry and is expected to have a positive impact on the sector.

The sentiment of Century's CEO 

Century Aluminum's CEO, Jesse Gary, expressed the company's gratitude towards the Biden Administration for its unwavering support of the U.S. aluminium industry. Mr Gary's remarks highlighted the positive impact of the administration's policies on the industry and emphasised the importance of continued government collaboration to maintain a robust and competitive domestic aluminium sector.

The CEO of Century Aluminum, Jesse Gary, clarified a few critical points through his statement: "We thank the Biden Administration for these important clarifications, and we are excited about the benefits that the U.S. primary aluminium industry will realise from the advanced manufacturing tax credit."

"Century Aluminum is proud to do its part to advance the broader national goals of increasing domestic production of critical minerals, accelerating the green energy transition and positioning the U.S. as a global leader in advanced manufacturing," he added.

Company Overview 

Century Aluminum, a primary aluminium producer based in Chicago, is the largest domestic producer of primary aluminium in the United States. The company operates smelters in Sebree, Kentucky; Hawesville, Kentucky; and Mt. Holly, South Carolina, which are significant contributors to the country's aluminium production.

Future endeavours 

The company has announced a forthcoming investor conference call scheduled for December 19, 2023, at 11:00 a.m. Eastern time. The call aims to discuss the impact of the Treasury Department's guidance on the 45X Advanced Manufacturing Tax Credit and its potential implications for the company and the broader industry. The call promises to offer valuable insights and perspectives on the matter.

If you wish to have a comprehensive outlook of the entire aluminium value chain beginning from bauxite mining and alumina refining to primary aluminium smelting, please have a look at AL Circle's special report encompassing all of them, Global Aluminium Industry - Key Trends to 2030.