Glencore said to consider shutting Canada’s largest copper plant
Glencore is planning to wind down its Horne Smelter — Canada’s largest copper-metal producing plant — citing steep environmental upgrades and operational costs, Reuters reported on Monday.
The Swiss commodities giant currently operates the Horne and the Canadian Copper Refinery (CCR), both located in the province of Quebec. The Horne smelter processes concentrates to make copper anode, which is then turned into cathode by CCR.
While no production figures have been published for these assets, industry sources cited by Reuters have pegged their annual output at more than 300,000 tonnes. Much of the copper metal production goes to the US, a net importer.
A closure, according to these sources, would impact as many as 1,000 workers employed on the two sites, which they estimate would require more than $200 million to modernize.
However, a Glencore spokesperson, in response to Reuters‘ requests for comments, denied that the group is considering closing down the Horne and CCR.
The spokesperson acknowledged that smelters globally are facing significant “financial, regulatory and operational pressure” — and Glencore’s smelters in Canada are not exempt from this. Still, “they play an important role in the supply of critical raw materials for the North American market and abroad.”
The potential shutdown of Glencore’s Canadian operations would reinforce forecasts of global shortages, partly due to supply disruptions at major mines in Chile and Indonesia. Canada is currently a major exporter of copper and supplier to the US, accounting for approximately 17% of US imports, ranking it second behind Chile.
According to Reuters, Glencore’s decision to close Horne and CCR stems from the high costs of making the operations environmentally safe, and is not related to a class-action lawsuit recently authorized by Quebec’s Supreme Court related to the smelter’s arsenic emissions dating back to 2020.
Founded nearly 100 years ago, the Horne smelter is said to have pioneered the recycling of electronic scrap in 1980. Glencore currently processes around 100,000 tonnes of discarded electronics annually to produce copper, nickel, cobalt, gold and silver, the company said on its website.
Earlier this year, Glencore sold its Pasar copper refinery in the Philippines, a custom smelter.
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12 Comments
Joseph
If they do close, they should be nationalized or be forced to sell. If they stay open, then they should be very, very strongly encouraged to find markets outside of the USA. If there is to be a copper shortage there should be little problem finding new markets.
Frederix
Delivering to a new country won’t change their issue
Tami Littel
It’s concerning to hear about the potential shutdown of Canada’s largest copper plant. This could have significant implications for the industry and local economies. I hope Glencore finds a solution that works for everyone involved.
Norm Dill
The rumors are obviously planted by the company and they are angling for financial support from the federal and or provincial governments. If true, in my opinion it points to a highly unethical company . No government financial aid of any kind including tax spending should be granted. Not to save a thousand jobs and not to keep the copper running. They can sell. No tax breaks. No government support whatsoever. We’ve seen how the Auto industry treats Canada and Ontario. After dumping billions into American automobile companies during the 2008 financial crisis and subsequently, you still have Stelalantis running after having been gifted money to keep the very plant there closing running. Let them practice free Enterprise
Stephen
Glad the grift is obvious to others too
Jim Andrews
The administration seems happy to choke canadian companies in environmental regulations. Then import goods from Areas with no regulations whatsoever.
John
Ai?
Elizabeth Mackinnon
Awesome
CanadianMiner
Increasing environmental regulations in Canada have consequences. Same as the costs due to Environmental upgrades in Flin Flon. When we make things too stringent we can’t be cost competitive in the market.
Luc marchand
I visist plant when I was in military did training around noranda.This plant is worn out pure simple.The will is not there upgrade like rest of us honest.I work fording coal 1980-88 own by cprail from montreal they spend money steady on upgrade all times yes.Syncrude,suncor,Carl and shell I was involve help them 1980s move away old stuff to bigger shovels,trucks and dozer.Glencore just blackmail again due quebec&cdn gov’t knew they pollute a lots turn head overway for years.Glencore is whining just bought teck coal in bc but no money in quebec is just political pure simple sad but true.Amen
Tom Roberts
I agree entirely with you M. Marchand.
Kevin Filo
They tore down the most environmentally friendly smelter in timmins years ago,! This is one
Of the poorest corporate citizens around and their mantra is “all about Glencore” . There motus operanda is pillage and leave devastating Canadian smelting capacity. This is on top of the fact they do not explore for new mines, again crippling Canadian base metal production. This is particularly evident in timmins where they have not drilled a surface exploration hole in two decades and holding up a massive land position hostage from others! These guys should be shown the door from Canada!