Century Aluminum Co. (CENX) signed a memorandum of understanding with the Republic of the Congo for the exclusive right to develop an aluminum business in the African nation.
Century said Thursday it obtained a right to develop an aluminum smelter, an alumina refinery and a bauxite mine.
The memorandum specified a minimum commitment for 500 megawatts of gas-generated electricity.
The parties identified Pointe Noire as a potential site for the smelter and the refinery. The mine's site depends on assessment and mapping of reserves.
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