Century Aluminum's Green Aluminum Project Receives $500 Million Funding Boost
Green aluminum project
Century Aluminum plans to build something not seen in the U.S. for nearly half a century. Century Aluminum (NASDAQ: CENX) stock has been on fire, with shares soaring about 50% in the past month, including a 16% gain this week. The company is set to receive up to $500 million to support the construction of a new low-emission aluminum smelter, which aims to double the industry's capacity.
Key Points:
- Building the first new primary aluminum smelter in the U.S. in 45 years
- Focusing on northeastern Kentucky as the project location
- Potential to create over 1,000 full-time jobs and expand domestic supply for various industries
Investors are hopeful about Century Aluminum's prospects amidst the sharp rise in its share price, signaling confidence in the planned turnaround.
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