Friday, Century Aluminum of Kentucky, a wholly owned subsidiary of Century Aluminum Co. (CENX) announced that at this time it would not be able to move forward on a proposed new, long-term power contract for the company's Hawesville, Kentucky smelter, due to unfavorable business conditions.
Century, along with Western Kentucky Energy, Big Rivers Energy, and Rio Tinto Alcan, has been working for more than five years to negotiate an unwind of the existing contractual arrangement between Big Rivers and Western Kentucky Energy, and to define a new agreement that would provide long-term and affordable power to the two smelters in western Kentucky.
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