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Analysis of the economic impacts of the Glencore ecosystem in Quebec

Following our economic profile of the impact of Horne Smelter and CCR Refinery, Aviseo carried out a study on the economic impact of Glencore’s entire ecosystem in Quebec. Through its network of facilities, Glencore owns Quebec’s largest nickel-producing mine, Canada’s only copper value chain, and the largest zinc refinery in eastern North America. The business is an important driver of the economy in each region of Quebec and contributes to the province’s considerable reputation in the mining sector, in metal recycling, and in the production of critical and strategic metals for Quebec.

Glencore - Analyse des impacts économiques de l'écosystème Glencore au Québec (synthèse)

Key figures

Of Glencore’s $5.8 billion of operating expenditures, $1.4 billion is generated in Quebec.
The Glencore ecosystem alone manages $1.7 billion in value added annually.
The total number of supported jobs is 14,087, including 8,825 in Quebec, or 3,088 direct jobs.
Glencore has at least one of its 5,600 suppliers in each of Quebec’s administrative regions, including more than 1,200 in Abitibi-Témiscamingue and more than one in Nord-du-Québec Inuit communities.
In the Abitibi-Témiscamingue and Nord-du-Québec regions, 9% of the GDP and 4% of employment are supported by Glencore. These two regions represent 67% of the value added and 50% of the business’s jobs.
The average salary of a Glencore employee ranges from $75,000 to $125,000, which is between 1.5 and 2.5 times the average salary of a Quebec worker.
A job at Glencore is 3.7 times more productive than the Quebec average, with a productivity of $351,000.
Exports from the Glencore ecosystem amount to nearly $5 billion, which is equivalent to 5.4% of all Quebec exports.