Glencore, Canada Near Deal to Save Threatened Copper Facility

From Bloomberg

The Horne Smelter, about 390 miles northwest of Montreal, is one of small number of facilities in North America that can process copper concentrate and recyclable materials such as electronic waste. The Swiss resources company said last month it was suspending plans to invest nearly C$1 billion ($720 million) in its Quebec copper operations after hitting an impasse in talks with the province over measures to reduce harmful arsenic emissions.

Without a deal, the facility would have to be wound down, impacting North America’s already constrained capacity to process copper into useful products. But Quebec has now proposed legislative changes to address some of Glencore’s main concerns. If passed, the metals company would get more time to reaching tougher emissions targets.

Meanwhile, the Canadian government is considering a financial aid request for about C$150 million to help pay for new pollution-control systems.