Why did Glencore suspend investments at the Horne Smelter?

Glencore suspended nearly $1 billion in investments at the Horne Smelter due to a lack of regulatory certainty from the provincial government of Quebec regarding emissions reductions and arsenic limits.

What are the potential consequences of Glencore's decision for the Horne Smelter?

Without planned upgrades, the Rouyn-Noranda smelter could miss emissions targets that are set to take effect in March 2027.

Will the Horne Smelter cease operations?

The smelter continues to operate under its current authorization, but Glencore has suspended nearly $1 billion in planned investments and is open to reassessing the situation in the coming months.

Home / Business and Economy / Glencore Halts $1B Quebec Investment Over Regulatory Woes

Glencore Halts $1B Quebec Investment Over Regulatory Woes

4 Feb

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Summary

Glencore suspended nearly $1 billion in investments at Horne Smelter.
Regulatory uncertainty from Quebec's provincial government is cited.
Emissions targets may be missed without planned smelter upgrades.

Glencore Halts $1B Quebec Investment Over Regulatory Woes

Glencore has announced a significant suspension of nearly $1 billion in planned investments at its Horne Smelter, located in Quebec. This decision stems from an inability to secure regulatory certainty from the provincial government regarding environmental requirements.

The company sought amendments to its ministerial authorization to allow for extended timelines on emissions reductions and confirmation of regulatory stability concerning arsenic limits. Glencore will now implement a demobilization plan at the Rouyn-Noranda smelter.

Glencore's Chief Operating Officer indicated that while the company explored all options, the necessary conditions for investment were not met. The smelter remains operational under its current authorization, but Glencore is open to exploring financial mechanisms to mitigate short-term investment risks, with a reassessment planned for the coming months.