The truth: the Horne Foundry is not the cash cow of the multinational Glencore

The right time: the Horne Foundry is not the cash cow of the multinational Glencore

and Nicolas Brasseur MISE À DAY

Our Investigation Office specializes in the art of establishing the facts. Throughout the election campaign, our researchers present their findings to you to flush out the surprising, dubious or downright false statements of the candidates, and allow you to see more clearly.

THE STATEMENT

Québec solidaire co-spokesperson Gabriel Nadeau-Dubois was on Mario Dumont's show last Tuesday. 

Asked by the host about the least-worst option between closing the Horne Foundry in Rouyn-Noranda and maintaining its operations to current standards, Gabriel Nadeau-Dubois affirmed that “there will be no closure because the Horne Foundry is Glencore's cash cow. It's an extremely profitable operation.”

THE FACTS

The right time: the Horne Foundry is not the cash cow of the multinational Glencore

However, the declaration of the co-holder QS's word is dubious at best. Glencore is an internationally operating company that generates billions of dollars in revenue each year.

Only in the first half of 2022, the company recorded a turnover of 134.4 billion US dollars, and a net profit of 12.1 billion dollars. This is considerably higher than for the whole of 2021 due to rising gas and coal prices.

Furthermore, neither the Horne Smelter nor Glencore Canada disclose their financial statements to the general public. public.

It is therefore difficult for anyone to go with such a statement.

Remember that the Horne Foundry is at the heart of a scandal this summer because of their emissions of arsenic in the air 33 times higher than the standard. The presence of arsenic has increased cancer cases in the City of Rouyn-Noranda. 

Québec solidaire did not respond to our questions.

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