Century Aluminum Supports Biden’s US Critical Mineral Production Push

TL/DR –

Century Aluminum has praised the Biden Administration for finalising the guidance on the Advanced Manufacturing Production Credit under the Inflation Reduction Act. This significant move increases U.S. production of critical minerals, including primary aluminium, strengthening the country’s leadership in sustainable manufacturing and securing the supply chain for vital materials. The company will share more details about the impact of the final rules during its upcoming third-quarter earnings call.

Century Aluminum Applauds Administration’s Manufacturing Production Credit Guidance Decision

Century Aluminum, an international metals and mining corporation specializing in bauxite, alumina, and aluminium, has praised the Biden Administration’s finalized guidance on the Advanced Manufacturing Production Credit. This is a part of Section 45X from the Inflation Reduction Act.

The critical act boosts U.S. production of vital minerals like primary aluminium and fortifies the nation’s lead in sustainable manufacturing. Moreover, it ensures the supply chain’s security for essential materials.

Jesse E. Gary, President and CEO of Century Aluminum, stated, \”The final rules include certain raw materials as part of our production costs in the tax credit calculation. This illustrates the administration’s unwavering support towards domestic manufacturing.\”

\”Our corporation is proud to spearhead domestic primary aluminium production, contributing significantly to our nation’s green energy transition.\”

The company will unveil more details on the final rules’ impact during the third-quarter earnings call scheduled for Monday, November 4, 2024, at 5:00 p.m. Eastern Time.

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