Century Aluminum to Acquire 40% Stake in EGA's New US Smelter, Boosting Capacity

Published: Jan 30, 2026 22:00

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Century Aluminum (Century) announced on Monday that it is set to acquire a 40% stake in a smelter planned by Emirates Global Aluminium (EGA) to be built in the US. In May 2025, EGA announced plans to construct a smelter in Enola, Oklahoma, with EGA retaining a 60% stake in the joint venture. This smelter will be the first new aluminum smelter built in the US in nearly 50 years. EGA stated last year that it would invest approximately $4 billion in the project’s development. The two companies indicated that, with Century’s involvement, the planned capacity of the smelter has been increased from the previous 600,000 mt of aluminum per year to 750,000 mt, which would more than double US aluminum production. The companies stated that construction of the smelter is expected to begin before the end of the year, with operations slated to commence by the end of this decade. Additionally, the project is projected to create 1,000 permanent jobs at the site and support 4,000 construction jobs. Former US President Donald Trump sought to boost domestic aluminum production by imposing tariffs on aluminum imports. Aluminum is one of the US’s critical minerals. Since June last year, the tariff rate doubled to 50%, driving the US Midwest aluminum premium to a record 99¢ per pound this month, equivalent to approximately $2,183 per mt.

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