Tax credit benefits Century Aluminum's bottom line

Century Aluminum got a boost from the Advanced Manufacturing Production Credit. Late last month, the Department of Treasury finalized the Section 45X tax break under the Inflation Reduction Act, which promotes U.S. production of critical minerals, including primary aluminum.

CEO Jesse Gary said by including carbon and other operating supplies, Century Aluminum expects its total full year 2023 benefit to be $79 million and 2024 benefit to be about $73 million.