Quebec business elite salute Noranda Magnesium

Quebec’s business community has singled out Noranda’s Magnola metallurgical plant, in Asbestos, for its contribution to the provincial economy.

The plant is operated by Noranda Magnesium, a representative of which was presented with the Mercure award at a gathering of the Quebec Chamber of Commerce in Montreal.

The plant uses new technology to transform tailings into magnesium. Parent company Noranda has invested almost $1 billion in the plant, which is expected eventually to produce 15% of the world’s magnesium.

“This award acknowledges not only the scope of the Magnola project, but its strategic importance for all of Quebec,” says Helene Gagnon, Noranda’s public affairs director.

The company also received an award for energy efficiency at its Horne smelter, in Rouyn-Noranda, Que. An energy conservation program there is expected to save Noranda $2 million annually.