No plans to continue at present
Umicore has announced an indefinite pause in constructing its new electric battery materials plant, part of the company’s recent cost-saving measures.
The Belgium-based firm initially halted construction on the plant in Loyalist Township in July to conduct a strategic review of its global operations.
This move affects roughly 260 employees across various locations, though the specific impact on the local workforce remains unclear.
While Umicore will retain a core team at the Loyalist Township site, roles related to construction are now redundant.
The company’s workforce adjustments will impact locations in China, Denmark, and research facilities worldwide. For North America, demand for high-nickel cathode materials will now be met through imports from Umicore’s South Korean facility.
CEO Bart Sap stated that these decisions reflect the challenges of the automotive industry’s transition to electric mobility. Federal and provincial funding commitments for the project are unaffected by the construction pause and will remain available if building resumes.