Century Aluminum announced that it has entered into an agreement with Noble Group Holdings to acquire Noble’s 55% ownership interest in Jamalco, a bauxite mining and alumina production joint venture in Jamaica. Pursuant to the terms of the agreement, a wholly owned subsidiary of Century will acquire General Alumina Holdings Limited, a Noble subsidiary and owner of Noble’s 55% interest in Jamalco, for $1. The transaction is expected to close by the end of April 2023. "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," said Jesse Gary, President and CEO of Century. "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.
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