What exactly did Glencore pause at Fonderie Horne?

Glencore paused critical modernization and environmental upgrades at Fonderie Horne in Rouyn-Noranda and at the CCR refinery. The company cited uncertainty around Quebec’s environmental obligations and public funding. Demobilization planning is underway, which can delay restart timelines, raise costs, and affect regional copper concentrate processing in the near term.

How many jobs are at risk in Rouyn-Noranda?

Roughly 600 direct jobs are at risk as the pause proceeds. These are skilled industrial roles with strong local spending effects. Extended uncertainty can push workers to leave the region, which would complicate any future restart. Timely clarity on emissions rules and funding is key to stabilizing employment prospects.

Why are arsenic emissions rules central to the decision?

Compliance requirements, timelines, and cost-sharing terms for arsenic emissions rules drive project scope and financing. Without clear standards and support, committing long-life capital is difficult. Fonderie Horne needs a stable, predictable framework to justify upgrades that reduce emissions while maintaining economic viability for workers and suppliers.

How could this affect copper markets in Canada?

A pause at Fonderie Horne and CCR reduces regional smelting and refining options. Miners may ship concentrate farther or overseas, which can raise freight costs and extend lead times. Some refined metal may be imported to fill gaps, shifting near-term value-added activity away from Canada until clarity returns.

What should investors watch next?

Track three things. First, Quebec’s decision on arsenic emissions rules and the compliance timeline. Second, details and timing of any public funding package. Third, site plans for demobilization or preservation. These milestones will shape restart probability, labour retention, and cost curves for Canadian copper supply chains.

Global Market Insights

Fonderie Horne Crisis, February 04: Glencore Halts Quebec Upgrades

ByDanny Kontos February 4, 2026

Fonderie Horne is back in focus after Glencore paused upgrades at the Rouyn-Noranda smelter and its CCR refinery in Quebec. The company cited uncertainty around provincial environmental obligations and public funding. The move triggers demobilization planning and puts roughly 600 direct jobs at risk. We explain what this means for regional employment, copper processing capacity in North America, and policy risk for investors. We also outline key watch points as Quebec weighs arsenic emissions rules and support options.