Century Aluminum Iceland Subsidiary Initiates Site Preparation for Helguvik Greenfield Smelter

Fri Mar 14, 2008 4:15am EDT
 
[-] Text [+]
  MONTEREY, CA, Mar 14 (MARKET WIRE) -- 
 Century Aluminum Company (NASDAQ: CENX) announced today that Nordural
Helguvik, a wholly owned subsidiary, has started the initial site preparation
for a 250,000 tonne greenfield primary aluminum smelter to be constructed near
Helguvik, Iceland. Consistent with Nordural's approach for the company's
260,000 tonne Grundartangi smelter, this new facility will be constructed in
stages. The first stage of approximately 150,000 tonnes expected is to be
online by late 2010.

    Work now underway at the Helguvik smelter site includes the construction
ofaccess roads, fencing and a temporary project office. The company anticipates
that major construction work will begin in the near future.

    "Today marks a major milestone for Nordural," said Century's president and
chief executive officer Logan W. Kruger. "We believe that the community guidance
and support we have received for this project is quite unique. Our staged
approach to construction is designed to match power availability and minimize
the impact on the Icelandic economy. Similar to our expansion at
Grundartangi, the Helguvik project will rely on Iceland's world-class people,
resources and expertise. We wish to thank the Icelandic government agencies, the
local communities and Iceland's two major geothermal power producers --
Hitaveita Sudurnesja and Orkuveita Reykjavikur, for their continuing support
and cooperation."

    Century Aluminum Company owns primary aluminum capacity in the United States
and
Iceland, as well as an ownership interest in alumina and bauxite assets in the
United States and Jamaica. Century's corporate offices are located in
Monterey, California.

    Cautionary Statement

    This press release may contain "forward-looking statements" within the
meaning of U.S. federal securities laws. The company has based its
forward-looking statements on current expectations and projections about the
future; however, these statements are subject to risks, uncertainties and
assumptions,
any of which could cause the company's actual results to differ materially
from those expressed in its forward-looking statements. More information about
these
risks, uncertainties and assumptions can be found in the risk factors and
forward-looking statements cautionary language contained in the company's Annual
Report on Form 10-K and in other filings made with the Securities and Exchange
Commission. The company does not undertake, and specifically disclaims, any
obligation to revise any forward-looking statements to reflect the occurrence
of anticipated or unanticipated events or circumstances after the date such
forward-lookingstatements are made.

    Certified Advisors for the First North market of the OMX Nordic Exchange
Iceland
hf. for Global Depositary Receipts in Iceland:


--  Astridur Thordardottir, Senior Manager-Corporate Finance, Landsbanki
    Islands hf.

--  Olafur Finsen, Senior Legal Advisor-Corporate Finance, Landsbanki
    Islands hf.
    

    


Contacts:
Mike Dildine
Media
831-642-9364

Shelly Lair
Investors
831-642-9357

Copyright 2008, Market Wire, All rights reserved.

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