Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTNathan OwensTue, August 11, 2026 at 2:37 PM GMT+2 3 min readThis story was originally published on Manufacturing Dive. To receive daily news and insights, subscribe to our free daily Manufacturing Dive newsletter.Dive Brief:Century Aluminum's Oklahoma smelter project is on track to break ground this year and begin producing hot metal by the end of 2029, President and CEO Jesse Gary said on an earnings call Thursday.The company, along with joint venture partner Emirates Global Aluminum, continued to make progress during the second quarter on project financing, energy contract talks and engineering details with Bechtel, Gary said.He also noted that the project should qualify for the Trump administration's recent onshoring incentive program, which allows approved companies to import a limited amount of primary aluminum at a tariff rate of 25% versus 50%.Dive Insight:Century Aluminum and partner Emirates Global Aluminum are looking to build the first U.S. smelter in 50 years amid shifting domestic policy and market trends.In April, the Trump administration closed valuation loopholes that importers used to circumvent Section 232 tariffs on metals. This has spurred prices higher and bolstered earnings for steel and aluminum producers.Today, all of Century Aluminum's production facilities are operating at full capacity for the first time in over a decade, Gary said. The company saw net sales reach $752.1 million in the second quarter, up $102.9 million compared to the first quarter.Over the same period, net income declined 26% to $249 million, weighed down by business interruption losses in Iceland and restart expenses in Mt. Holly, South Carolina. With facilities at full capacity, Gary said Century Aluminum is expecting third quarter earnings to rebound as high as $345 million on an adjusted basis.Gary said the administration's new program "goes a step further and actually incentivizes the companies that are putting capital in the ground to build new American capacity."The Inola, Oklahoma, smelter project, expected to double U.S. primary aluminum production with annual capacity of 750,000 metric tons, would allow Century Aluminum and Emirates Global Aluminum to import up to that amount per year at the reduced rate starting in 2027.The companies plan to split the incentive according to their 60-40 joint venture ownership if approved, meaning Century Aluminum could begin importing up to 300,000 metric tons per year at 25%."We intend to apply that benefit to help fund Century's share of the Oklahoma project," Gary said.As the companies work to finalize project details before construction begins this year, state residents and politicians are pushing back on the smelter.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info