Century Aluminum Sells Hawesville Site for Digital Campus

By Chris Stiles • Tuesday, February 03 15:36 • Permanent Link

Century Aluminum Company (NASDAQ: CENX) has announced the sale of its Hawesville, Kentucky site to Terawulf Inc. (NASDAQ: WULF), which will be redeveloped into a digital infrastructure campus supporting high-performance computing and artificial intelligence workloads. Century will retain a non-controlling minority equity stake in the site, reflecting its continued interest in the site’s productive reuse and long-term benefits to the Hawesville community.

The redevelopment of the Hawesville site by Terawulf is expected to create substantial new jobs, both construction and permanent skilled positions, and generate long-term economic activity for the region.

Century Aluminum Company's President and CEO, Jesse Gary, expressed his satisfaction with the transition of the Hawesville site to a productive use that will benefit Hawesville and the entire Commonwealth of Kentucky.

This redevelopment follows a series of significant investments in the United States by Century Aluminum Company, which is already the largest producer of primary aluminum in the U.S. Under President Trump’s leadership, the company has announced new investments in the last year that will more than double total U.S. domestic aluminum production. These investments include Century’s expansion of its Mt. Holly, South Carolina smelter and its new, cutting-edge 750,000mt smelter to be built in Inola, Oklahoma with partner Emirates Global Aluminium.

Century Aluminum Company is proud to be the largest producer of primary aluminum in the United States and is dedicated to continuing to invest domestically to meet the national security needs of the United States for this critical mineral, according to Mr. Gary.

As part of the transaction, Century’s Form 8-K provides information regarding the terms of the transaction. BofA Securities served as the exclusive financial advisor to Century, while FBT Gibbons and Vedder served as legal counsel to the company.

With its corporate headquarters located in Chicago, IL, Century Aluminum owns and operates primary aluminum smelting facilities in the United States and Iceland and is the majority owner and managing partner of the Jamalco alumina refinery in Jamaica. The market has reacted to these announcements by moving the company's shares -1.9% to a price of $47.57. For more information, read the company's full 8-K submission here.

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