Century Aluminum Co. (NASDAQ:CENX) Q2 2020 Earnings Conference Call - Final Transcript

Aug 05, 2020 • 05:00 pm ET

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Century Aluminum Co. (NASDAQ:CENX) Q2 2020 Earnings Conference Call - Final Transcript

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Q & A
Operator
Operator

[Operator Instructions] Your first question comes from the line of Lucas Pipes with B. Riley FBR.

Analyst
Lucas Pipes

Hey, good afternoon, everybody. Just a few questions here from my side and first I wanted to touch on a Mt. Holly, it's like things are moving in the right direction there slowly but steadily. Can you remind us what the procedural steps are from here on out and how quickly we may have a...

Executive
Michael A. Bless

Yes, sure Lucsa. It's Mike. I'll take that one. Thanks for the question. Without getting into the specifics of the various court cases there are several here that are ongoing those will sort of wind their way through those processes over the coming couple months. The real the date that's in front of us of course is 31 December which is the expiry of the current power contract and so I guess, I'd say over the next month or two or three we need to develop some confidence as to how the legal posture will look as we look to replacement for that power contract.

So I guess you throw away comment to say these processes take some time. Unclear. It's very difficult to predict and thus I won't try whether any of them will or all of them obviously would be at their fruition over the next couple months but we do have other alternatives on which we're working and we'll be making some of those decisions over the next couple months. Ultimately we think we've got a winning hand. It's just a timing issue.

Analyst
Lucas Pipes

Any additional color you -- alternative...

Executive
Michael A. Bless

Very difficult, no very difficult at this point. We want to continue running that plant and ultimately Lucas we want to run both pot lines because that's the way it was designed and that's the way it should run and the demand for the product, the billet itself is certain is there many many, many times over. So that's the pot at the end of the rainbow is running the planted two lines. It's running at one line today and we're going to as I said have to make some decisions here coming up as to how we get from where we are now to the end of the rainbow specifically on your question, there is a bunch of court cases. There is cases in federal court. There is case is in state court. It's pretty complex. It really I don't without being presumptuous it might sound that way it expounding on the details of any of those cases isn't going to do anybody any good.

Analyst
Lucas Pipes

I understand and I appreciate the color you are able to provide.

Executive
Michael A. Bless

Sure.

Analyst
Lucas Pipes

My second question is I will try to touch on a couple of points in kind of one swoop but the first is just kind of understanding this price recovery and then as premiums specifically you mentioned demand has declined 30% North American production is up, you have the import search from Canada kind of how do all of