Century Aluminum Company (NASDAQ: CENX) announced today that it has signed a memorandum of understanding (MOU) with the Guangxi Investment Group Company (GIG) to explore the feasibility of developing a high purity aluminum reduction project and related bauxite and alumina supplies in China.
The project is targeted for Laibin, in the Guangxi Zhuang Autonomous Region, one of China's largest bauxite reserve areas. The project would consist of a 500,000 tonne aluminum smelter that would be constructed in two phases, and which would supply an integrated aviation and alloy products facility that GIG is developing.
"We are very pleased to be working with the Guangxi Group," said president and chief executive officer Logan W. Kruger. "We see great potential in this region of China and look forward to exploring the feasibility of a mutually beneficial project."
Century Aluminum Company owns primary aluminum capacity in the United States and Iceland, as well as an interest in alumina and bauxite assets in the United States and Jamaica. Century's corporate offices are located in Monterey, California.
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