Glencore Canada suspends investments in Horne smelter due to regulatory uncertainty

Glencore Canada announced it has suspended all investments related to emissions reduction and facility upgrade projects at its Horne smelter. The company will also implement a demobilization plan, effective February 3, 2026. This decision stems from an inability to secure necessary conditions for continued operation. Investments at the CCR Refinery will also be scaled back over the medium term.

Glencore Canada is a leading natural resources company with a growing presence in Canada, producing and recycling critical minerals, including nickel, copper, zinc, and cobalt.

Since summer 2025, Glencore Canada has engaged with the Government of Quebec to ensure the long-term viability of its operations in Rouyn-Noranda and Montréal-Est. Despite mutual efforts, the company states that essential conditions are not sufficiently in place to allow it to proceed with planned investments.

"Our employees deserve clear direction for the future. We have worked in good faith and explored every option available to us. Protecting jobs and maintaining operations remain the company's top priorities, but the conditions needed to move forward simply are not in place right now," Marc Bédard, chief operating officer of custom metallurgical assets at Glencore, stated.

Glencore Canada was prepared to commit nearly $1 billion over five years in major investments, including $300 million for emissions reduction. However, the company deemed it irresponsible to authorize such an investment without assurance that regulatory conditions would permit the Smelter to operate within a predictable and realistic longer-term framework.

Glencore Canada repeatedly communicated two clear requirements to the government: an adjustment of the current ministerial authorization to allow full implementation of the emissions reduction plan on a realistic timeline, and confirmation of a stable regulatory framework for the duration of the next authorization, including maintaining the 15 ng/m³ target for arsenic. While awaiting this regulatory certainty, Glencore Canada remains open to exploring other mechanisms, such as financial ones, to reduce the short-term risk associated with investments of this scale.

"It is very disappointing to be potentially on the path to closure when we are convinced the Horne Smelter's operations are safe for the community." He emphasized the immediate priority of being on the ground with teams and communicating transparently with affected employees and partners," Bédard said.

Glencore Canada acknowledges the continued commitment of its teams and highlights tangible progress in recent years. Between 2022 and 2024, the average arsenic concentration in ambient air at the Horne legal monitoring station decreased by 46.5%. In 2024, 99% of Rouyn-Noranda's urban area had concentrations at or below 15 ng/m³.

The Horne Smelter continues to operate in accordance with its current ministerial authorization. However, without completing the planned projects, the company states it will become impossible to meet certain targets that come into effect starting in March 2027. The situation will require reassessment in the coming months.

For more information, visit www.Glencore.ca