The cumulative impact of the recent period of high energy costs, high inflation, and high interest rates has led to a strong cyclical downturn in demand for Sibelco’s products across most of its markets, especially in Europe. According to its 2023 Financial Results release, Sibelco was able to deliver strong results in 2023 despite this challenging economic environment.

Sibleco's high purity quartz business in Spruce Pine benefited from strong demand in the solar energy sector. Responding to these conditions, Sibelco began the first phase of a major expansion of Spruce Pine that may strengthen its position as a global provider of high purity quartz.

The first phase of major expansion of Sibelco's HPQ operation in Spruce Pine will double installed capacity with an investment of $200 million. Feasibility studies for a second phase of expansion that would be executed from 2024 – 2027, are underway.

Photo and content source: Sibleco