Exhibit 10.45

AMENDMENT NO. 11 TO AMENDED AND RESTATED LOAN AGREEMENT

This AMENDMENT NO. 11 TO AMENDED AND
RESTATED LOAN AGREEMENT (this Amendment), dated as of July 31, 2007, is entered into by and among Wise Alloys LLC, a Delaware limited liability company (Alloys), Wise Recycling, LLC, a Maryland limited liability company
(Recycling and together with Alloys, each individually a Borrower and collectively, Borrowers), Wise Metals Group LLC, a Delaware limited liability company (Group), Wise Alloys Finance Corporation, a
Delaware corporation (Finance), Listerhill Total Maintenance Center LLC, a Delaware limited liability company (Listerhill), Wise Warehousing, LLC, a Delaware limited liability company (Warehousing), Wise Recycling
Texas, LLC, a Delaware limited liability company (Recycling Texas), Wise Recycling West, LLC, a Delaware limited liability company (Recycling West and together with Group, Finance, Listerhill, Warehousing and Recycling Texas,
each individually a Guarantor and collectively, Guarantors), the lenders from time to time party thereto, and Wachovia Bank, National Association, successor by merger to Congress Financial Corporation, in its capacity as
administrative agent (in such capacity, Agent) for Lenders (as hereinafter defined).

WITNESSETH:

WHEREAS, Agent and the financial institutions from time to time parties to the Loan Agreement (as hereinafter defined) as lenders (each individually, a
Lender and collectively, Lenders) have entered into financing arrangements with Borrowers pursuant to which Agent and Lenders have made and provided and hereafter may make and provide, upon certain terms and conditions, loans
and advances and other financial accommodations to Borrowers as set forth in the Amended and Restated Loan Agreement, dated May 5, 2004, by and among Agent, Lenders, Borrowers and Guarantors, as amended by Amendment No. 1 to Amended and
Restated Loan Agreement, dated as of June 30, 2004, Amendment No. 2 to Amended and Restated Loan Agreement, dated as of November 10, 2004, Amendment No. 3 and Waiver to Amended and Restated Loan Agreement, dated as of
March 21, 2005, Amendment No. 4 to Amended and Restated Loan Agreement, dated as of October 31, 2005, Amendment No. 5 to Amended and Restated Loan Agreement, dated as of March 3, 2006, Amendment No. 6 to Amended and
Restated Loan Agreement, dated as of March 31, 2006, Amendment No. 7 to Amended and Restated Loan Agreement, dated as of April 28, 2006, Amendment No. 8 to Amended and Restated Loan and Security Agreement, dated as of
June 12, 2006, Amendment No. 9 and Waiver to Amended and Restated Loan Agreement, dated as of August 4, 2006, and Amendment No. 10 to Amended and Restated Loan Agreement, dated as of December 31, 2006 (as the same now exists
and may hereafter be amended, modified, supplemented, extended, renewed, restated or replaced, the Loan Agreement) and the other agreements, documents and instruments referred to therein or any time executed and/or delivered in
connection therewith or related thereto, including this Amendment (all of the foregoing, together with the Loan Agreement, as the same now exist or may hereafter be amended, modified, supplemented, extended, renewed, restated or replaced, being
collectively referred to herein as the Financing Agreements);



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WHEREAS, Borrowers have requested that Agent and Lenders agree to make certain amendments to the Loan
Agreement, and Agent and Lenders are willing to agree to such requests, subject to the terms and conditions contained herein;

WHEREAS, the
parties hereto desire to enter into this Amendment to evidence and effectuate such amendments, subject to the terms and conditions and to the extent set forth herein;

NOW, THEREFORE, in consideration of the premises and covenants set forth herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as
follows:

1. Definitions. Capitalized terms used herein which are not otherwise defined herein shall have the respective meanings
ascribed thereto in the Loan Agreement.

2. Financial Statements and Other Information. Section 9.6(a)(i) of the Loan Agreement
is hereby amended by deleting the reference to within thirty (30) days after the end of each fiscal month, and replacing it with the following:

on or prior to September 14, 2007 with respect to the fiscal month ending July 31, 2007, and within thirty (30) days
after the end of each other fiscal month,.

3. Minimum EBITDA. Section 9.17 of the Loan Agreement is hereby amended by
deleting such Section in its entirety and replacing it with the following:

9.17 Minimum EBITDA. Group and its
Subsidiaries shall not permit the EBITDA of Group and its Subsidiaries for each period set forth below (each, a Section 9.17 Test Period) to be less than the amount set forth below opposite such Section 9.17 Test Period:



|                                          |  |                |           
|----------------------------------------- |  | -------------- | ----------
|Period                                    |  | Minimum EBITDA
|January 1, 2007 through October 31, 2007  |  | $              | 20,000,000
|January 1, 2007 through November 30, 2007 |  | $              | 27,000,000
|January 1, 2007 through December 31, 2007 |  | $              | 32,500,000
|January 1, 2008 through January 31, 2008  |  | $              | 5,000,000 
|January 1, 2008 through February 28, 2008 |  | $              | 10,000,000
|January 1, 2008 through March 31, 2008    |  | $              | 15,000,000
|January 1, 2008 through April 30, 2008    |  | $              | 20,000,000
|January 1, 2008 through May 31, 2008      |  | $              | 25,000,000
|January 1, 2008 through June 30, 2008     |  | $              | 30,000,000
|January 1, 2008 through July 31, 2008     |  | $              | 35,000,000



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|                                                                                                                            |  |                |           
|--------------------------------------------------------------------------------------------------------------------------- |  | -------------- | ----------
|Period                                                                                                                      |  | Minimum EBITDA
|January 1, 2008 through August 31 , 2008                                                                                    |  | $              | 40,000,000
|January 1, 2008 through September 30, 2008                                                                                  |  | $              | 45,000,000
|January 1, 2008 through October 31, 2008                                                                                    |  | $              | 50,000,000
|January 1, 2008 through November 30, 2008                                                                                   |  | $              | 55,000,000
|January 1, 2008 through December 31, 2008                                                                                   |  | $              | 60,000,000
|February 1, 2008 through January 31, 2009 and each twelve (12) month period ending on the last day of each month thereafter |  | $              | 60,000,000

provided, that, solely for purposes of this Section 9.17, the calculation of
EBITDA shall not include the effects of any non cash accounting adjustments for FASB 133 or any non cash LIFO reserves; provided, further, that, (x) if the Adjusted Excess Availability is equal to or greater than
$20,000,000 on the last day of the Section 9.17 Test Period ending on October 31, 2007, then Group and its Subsidiaries shall not be required to comply with the terms of this Section 9.17 for such Section 9.17 Test Period, and
(y) if the Adjusted Excess Availability is equal to or greater than $20,000,000 for each of the ten (10) consecutive days immediately preceding the last day of any other Section 9.17 Test Period, then Group and its Subsidiaries shall
not be required to comply with the terms of this Section 9.17 for such Section 9.17 Test Period.

4. Amendment Fee.
In addition to all other fees, charges, interest and expenses payable by Borrowers to Agent and Lenders under the Loan Agreement and the other Financing Agreements, Borrowers shall pay to Agent, for the account of Lenders (to the extent and in
accordance with the arrangements between Agent and each Lender), an amendment fee in the amount of $300,000, which fee shall be fully earned on the date hereof and is payable in two (2) equal installments of $150,000, with the first installment
due and payable on the date hereof, and the second installment due and payable on October 31, 2007, provided, that, the entire amount of such fee shall become immediately due and payable, without notice or demand, at Agents
option upon the occurrence of an Event of Default or the early termination of the Loan Agreement. Agent may, at its option, charge such amendment fee to the loan account of Borrowers maintained by Agent.

5. Additional Representations, Warranties and Covenants. Borrowers and Guarantors, jointly and severally, represent, warrant and covenant with and
to Agent and Lenders as follows, which representations, warranties and covenants are continuing and shall survive the execution and delivery hereof, and the truth and accuracy of, or compliance with each, together with the representations,
warranties and covenants in the other Financing Agreements, being a continuing condition of the making of Loans by Lenders to Borrowers:

(a) the aggregate Excess Availability of Borrowers on each day during the period from October 31, 2007 through and including November 12, 2007, shall be not less than $12,000,000;



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(b) This Amendment and the other Financing Agreements executed and/or delivered by any Borrower or
Guarantor in connection herewith (together with this Amendment, the Amendment Documents) have been duly authorized, executed and delivered by all necessary action on the part of each Borrower and Guarantor which is a party hereto and, if
necessary, their respective members or stockholders, as the case may be, and is in full force and effect as of the date hereof, as the case may be, and the agreements and obligations of Borrowers and Guarantors contained herein or therein constitute
legal, valid and binding obligations of Borrowers and Guarantors enforceable against them in accordance with their terms, except as such enforceability may be limited by (i) bankruptcy, insolvency, reorganization, moratorium or similar laws of
general applicability affecting the enforcement of creditors rights and (ii) the application of general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).

(c) As of the date hereof, all of the representations and warranties set forth in the Loan Agreement and the other Financing Agreements are true and
correct in all material respects on and as of the date hereof as if made on the date hereof, except to the extent any such representation or warranty is made as of a specified date, in which case such representation or warranty shall have been true
and correct as of such date.

(d) Neither the execution, delivery and performance of this Amendment or any other Amendment Document in
connection therewith, nor the consummation of any of the transactions contemplated herein or therein (i) are in contravention of law or any indenture, agreement or undertaking (including the Indenture) to which any Borrower or Guarantor is a
party or by which any Borrower or Guarantor or its property are bound, or (ii) violates any provision of the Certificate of Incorporation, Certificate of Formation, Operating Agreement, By-Laws or other governing documents of any Borrower or
Guarantor.

(e) As of the date hereof and after giving effect hereto, no Default or Event of Default exists or has occurred and is
continuing.

6. Conditions Precedent. The provisions contained herein shall be effective as of the date hereof, but only upon the
satisfaction of each of the following conditions precedent, in a manner satisfactory to Agent:

(a) Agent shall have received an original of
this Amendment, duly authorized, executed and delivered by Borrowers, Guarantors and Required Lenders;

(b) all representations and
warranties contained herein, in the Loan Agreement and in the other Financing Agreements shall be true and correct in all material respects with the same effect as though such representations and warranties had been made on and as of the date hereof
and after giving effect hereto, except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and accurate on and as of such earlier
date);

(c) no law, regulation, order, judgment or decree of any Governmental Authority shall exist, and no action, suit, investigation,
litigation or proceeding shall be pending or threatened in any court or before any arbitrator or Governmental Authority, which (i) purports to



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enjoin, prohibit, restrain or otherwise affect (A) the making of the Loans or providing the Letter of Credit Accommodations, or (B) the
consummation of the transactions contemplated pursuant to the terms of this Amendment, the Loan Agreement or the other Financing Agreements or (ii) has or has a reasonable likelihood of having a Material Adverse Effect; and

(d) no Default or Event of Default shall exist or shall have occurred and be continuing.

7. Effect of this Amendment; Entire Agreement. Except as expressly set forth herein, no other changes or modifications to the Financing Agreements
are intended or implied, and in all other respects the Financing Agreements are hereby specifically ratified, restated and confirmed by all parties hereto as of the date hereof. This Amendment and any instruments or documents delivered or to be
delivered in connection herewith, represent the entire agreement and understanding concerning the subject matter hereof and thereof between the parties hereto, and supersede all other prior agreements, understandings, negotiations and discussions,
representations, warranties, commitments, proposals, offers and contracts concerning the subject matter hereof, whether oral or written. To the extent of conflict between the terms of this Amendment and the other Financing Agreements, the terms of
this Amendment shall control. The Loan Agreement and this Amendment shall be read and construed as one agreement.

8. Further
Assurances. The parties hereto shall execute and deliver such additional documents and take such additional action as may be reasonably necessary or desirable to effectuate the provisions and purposes of this Amendment.

9. Governing Law. The validity, interpretation and enforcement of this Amendment and any dispute arising out of the relationship between the
parties hereto whether in contract, tort, equity or otherwise, shall be governed by the internal laws of the State of New York but excluding any principles of conflicts of law or other rule of law that would cause the application of the law of any
jurisdiction other than the laws of the State of New York.

10. Binding Effect. This Amendment shall be binding upon and inure to
the benefit of each of the parties hereto and their respective successors and assigns.

11. Headings. The headings listed herein are
for convenience only and do not constitute matters to be construed in interpreting this Amendment.

12. Counterparts. This Amendment
may be executed in any number of counterparts, but all of such counterparts shall together constitute but one and the same agreement. In making proof of this Amendment, it shall not be necessary to produce or account for more than one counterpart
thereof signed by each of the parties hereto. This Amendment may be executed and delivered by telecopier or other electronic method of transmission with the same force and effect as if it were a manually executed and delivered counterpart.

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IN WITNESS WHEREOF, Agent, Lenders, Borrowers and Guarantors have caused this Amendment to be duly
executed as of the day and year first above written.



AGENT AND LENDERSWACHOVIA BANK, NATIONAL ASSOCIATION, as Agent and as a LenderBy:Title:BANK OF AMERICA, N.A., as a LenderBy:Title:PNC BANK, NATIONAL ASSOCIATION, as a LenderBy:Title:THE CIT GROUP/BUSINESS CREDIT, INC., as a LenderBy:Title:BURDALE FINANCIAL LIMITED, as a LenderBy:Title:LASALLE BUSINESS CREDIT, LLC, as a LenderBy:Title:


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BORROWERSWISE ALLOYS LLCBy:Title:WISE RECYCLING, LLCBy:Title:GUARANTORSWISE METALS GROUP LLCBy:Title:WISE ALLOYS FINANCE CORPORATIONBy:Title:LISTERHILL TOTAL MAINTENANCE CENTER LLCBy:Title:WISE RECYCLING TEXAS, LLCBy:Title:


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WISE WAREHOUSING, LLCBy:Title:WISE RECYCLING WEST, LLCBy:Title: