Century Aluminum to Build First US Smelter in 50 Years, Q4 Adjusted Income $128M
Century Aluminum partnered with Emirates Global Aluminium to build the first new US smelter in 50 years, sold its Haasville site for $200 million, and reported adjusted Q4 net income of $128 million. Restart of Mount Holly is set to raise US output 10% in 2026 despite Iceland smelter halts.
1. Strategic Smelter Partnership
Century Aluminum struck a strategic partnership with Emirates Global Aluminium to construct the first new aluminum smelter in the US in 50 years. This joint venture aims to significantly expand domestic capacity and support long-term demand amid tight global supply.
2. Q4 Financial Results and Asset Sale
In Q4 2025, the company delivered an adjusted net income of $128 million. It also monetized the Haasville site into a digital infrastructure campus, generating $200 million in cash proceeds while retaining a 6.8% equity interest in the redevelopment.
3. Operational Challenges and Mount Holly Restart
Century Aluminum faced production halts at its Grunderangi smelter in Iceland due to transformer failures and weather-related instability at Jamalco, which dented Q4 shipments. The company anticipates restarting its Mount Holly facility in 2026 to boost US output by 10%, addressing some of these capacity constraints.