MONTEREY, CA, Feb 08, 2007 (MARKET WIRE via COMTEX News Network) -- Century Aluminum Company (NASDAQ: CENX) announced today that it has signed a memorandum of understanding (MOU) with the Republic of the Congo (ROC) for the exclusive right to develop an aluminum business in the ROC consisting of an aluminum smelter, an alumina refinery and a bauxite mine.
The parties have tentatively identified Pointe Noire as a potential site for the aluminum smelter and alumina refinery. The location of the bauxite mine is dependent upon a future assessment and mapping of bauxite reserves. The MOU specifies a minimum commitment of 500 megawatts of gas-generated electrical energy.
"We believe that the Republic of the Congo has all of the ingredients necessary to sustain a profitable aluminum industry," said president and chief executive officer Logan W. Kruger. "We appreciate the strong support we have received from the ROC government and anticipate a constructive and mutually beneficial future relationship."
Century Aluminum Company owns primary aluminum capacity in the United States and Iceland, as well as an ownership interest in alumina and bauxite assets in the United States and Jamaica. Century's corporate offices are located in Monterey, California.
This press release may contain "forward-looking statements" within the meaning of U.S. federal securities laws. The company has based its forward-looking statements on current expectations and projections about the future; however, these statements are subject to risks, uncertainties and assumptions, any of which could cause the company's actual results to differ materially from those expressed in its forward-looking statements. More information about these risks, uncertainties and assumptions can be found in the risk factors and forward-looking statements cautionary language contained in the company's Annual Report on Form 10-K and in other filings made with the Securities and Exchange Commission. The company does not undertake, and specifically disclaims, any obligation to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date such forward-looking statements are made.
Contact: Mike Dildine 831-642-9364
SOURCE: Century Aluminum Company
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