09:41 AM EDT, 03/13/2024 (MT Newswires) -- Century Aluminum Company ( CENX ) and MX Holdings said Wednesday that they have signed a memorandum of understanding to launch a joint venture that will manufacture and market low-carbon secondary billet.

The companies said the joint venture, which aims to begin production in 2026, will deliver advanced alloys made of increasingly high levels of recycled content produced by low-carbon processes. They said the goal is to scale up to 250 million pounds per year, and that the joint venture will be the largest American-owned secondary billet supplier in the world.

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