Glencore to Shut Down Portovesme Zinc Operations Earlier Than Planned

Glencore

Glencore, the global mining and commodities trading giant, is set to shut down its zinc production line at the Portovesme facility in Sardinia on December 23, 2024, a week earlier than originally planned. The decision, disclosed by trade unions, comes as a surprise, as the closure was previously scheduled for December 31.

According to Pier Luigi Ledda, general secretary of the Cisl trade union, Glencore cited a technical issue as the reason for the early shutdown. The Portovesme complex, located on Sardinia’s west coast, consists of two sites for lead and zinc extraction and also produces precious metals while handling waste treatment from its operations.

Italian Government Deems Closure Unacceptable

The Italian industry ministry has strongly opposed the decision, calling it "unacceptable". The ministry had previously secured assurances from Glencore that the closure would be delayed to allow more time to find investors for the site.

The timing of the announcement has drawn further criticism, as it coincides with a government delegation’s visit to Portovesme, which was agreed upon with Glencore to assess potential asset disposals.

Future Prospects: Battery Recycling Plans in Question

Despite the closure, Glencore has previously committed to relaunching the Portovesme metallurgical complex, including the potential development of a lithium battery recycling hub. However, it remains unclear how the accelerated shutdown will impact these plans.