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Announced

Glencore-backed Century Aluminum to acquire a 55% stake in Jamalco from Noble.

Synopsis

Glencore-backed Century Aluminum, a global metals and mining company, focused on bauxite, alumina and aluminum, agreed to acquire a 55% stake in Jamalco, a joint venture between Noble Group and Clarendon Alumina Production with a focus on bauxite mining and alumina production, from Noble, a commodity trader. Financial terms were not disclosed. “This acquisition is highly strategic for Century as it secures a predictable, long-term supply of alumina, our most critical raw material and achieves increased transparency and control of our supply chain. Acquiring this interest in Jamalco allows us to integrate our aluminum smelting operations with this critical upstream supply of bauxite and alumina to create a more balanced and robust operational footprint, resulting in an organization that is better positioned to deliver strong performance through industry cycles," Jesse Gary, Century Aluminum President and CEO.

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