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| Glencore |
Early Closure Raises Concerns
Glencore, the global mining and commodities trading company, will close its zinc production at the Portovesme facility in Sardinia on December 23, 2024, a week earlier than the originally scheduled December 31 shutdown. The decision, disclosed by trade unions, was attributed to technical issues, adding to concerns about the site's future.
Located on Sardinia’s west coast, the Portovesme complex houses lead and zinc extraction operations, precious metals production, and waste treatment facilities. Glencore’s decision to fast-track the closure raises uncertainty regarding the long-term viability of the site.
Government and Future Prospects
The Italian industry ministry has called the decision "unacceptable", emphasizing that Glencore had previously assured authorities that the closure would be delayed to facilitate investor negotiations. The timing of the announcement has drawn further criticism, as it coincides with a government delegation’s scheduled visit to assess potential asset disposals.
Glencore had previously expressed interest in repurposing Portovesme into a lithium battery recycling hub, aligning with Europe's push for sustainable metal recovery. However, it remains unclear how the accelerated shutdown will impact these plans, raising doubts about the future of the facility and its workforce.
As Italy and trade unions continue to pressure Glencore for more clarity, the metal industry will closely monitor how this development affects European zinc supply and investment prospects in Sardinia’s industrial sector.
