California-based aluminum producer Century Aluminum has received a federal income tax refund of $79.7 million.
This refund is in addition to the $10.1 million refund received from the Internal Revenue Service in February 2009 for estimated federal income taxes paid in the 2008 tax year.
In February 2009, Century filed a carry back refund claim for federal income taxes paid in the 2006 and 2007 tax years.
The $79.7 million refund relates to the federal income tax loss generated upon the termination of the company's forward sales contracts in July 2008.