Company: CENX
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000949157-25-000024
Chunk: 118

Company: CENTURY ALUMINUM CO
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 118
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 market-based prices. For the years ended December 31, 2024, 2023 and 2022 we recorded $191.3 million, $191.7 million, and $24.9 million of revenue related to alumina sales to Glencore, respectively. 

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CENTURY ALUMINUM COMPANYNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(amounts in millions, except share and per share amounts)

Purchases from GlencoreWe purchase a portion of our alumina and certain other raw material requirements from Glencore. Alumina purchases from Glencore during 2024 were priced based on published alumina and aluminum indices as well as fixed prices.Financial contracts with GlencoreWe have certain financial contracts with Glencore. See Note 20. Derivatives regarding these forward financial sales contracts.SummaryA summary of the aforementioned significant related party sales and purchases for the years ended December 31, 2024, 2023 and 2022 is as follows: Year Ended December 31, 202420232022Net sales to Glencore$1,312.1 $1,612.1 $1,671.1 Purchases from Glencore (1)277.9 181.4 284.7 (1)Includes settlements of financial contract positions.Vlissingen Credit Facility On December 9, 2022, Vlissingen entered into a Facility Agreement with Glencore International AG which was amended and extended on October 1, 2024 (as amended, the "Vlissingen Credit Facility").  The availability period for borrowings under the Vlissingen Credit Facility was extended by two years and now ends on December 2, 2026.  Pursuant to the terms of the Vlissingen Credit Facility, Vlissingen may borrow from time to time up to $90 million in one or more loans at either (i) a fixed interest rate equal to 8.75% per annum (the "Fixed rate"), or (ii) a variable interest rate equal to the 1-month SOFR rate plus 3.687 percentage points, subject to an absolute maximum level of 9.00% and an absolute minimum level of 7.00% (the "Variable Rate").  The Fixed Rate is only applicable to borrowings made on or before December 1, 2024, after which the Variable Rate shall