Canada’s biggest investor on the island -- now a penny stock, with its shares down more than 50% so far this year -- is feeling the pinch of Cuba’s dire economic straits.
Cuba Mining News
The complete lifting of the ban could allow billions of dollars in legal claims to move forward in U.S. courts and likely antagonize Canada and Europe.
In 2019, Sherritt's Moa JV is expected to produce between 31,000 and 33,000 tonnes of finished nickel and between 3,300 and 3,600 tonnes of finished cobalt.
The company’s share of finished nickel production at the Moa joint venture (JV) in Cuba and Saskatchewan, Canada was 4,294 tonnes, up 4% from last year.
In 2017 Morales started talking about lithium mining. The country holds vast amounts of the mineral.
Nickel is one of Cuba’s most important exports, but revenue from it has suffered in recent years due to a decline in production and prices.
The numbers are up thanks to the success of the company’s Moa JV with the Cuban Government.
Panasonic said it was unable to determine how much of the cobalt used in batteries it makes for Tesla cars comes from Cuba.
In late April, Millbrook Minerals became the first copper-zinc explorer to sign an International Economic Association (IEA) contract with Cuba's GeoMinera, becoming the first Canadian firm to sign a deal with the Island since the mid 90’s.
The country was ranked 10th in world nickel production in 2016 and sixth in cobalt.
Cuba has begun to shut down its nickel industry in preparation for Hurricane Irma, state-run television said on Thursday.
A new lead and zinc mine in northwestern Cuba is on track to start production in October as part of the Caribbean island's attempt to breathe fresh life in its mining sector, the joint venture Emincar overseeing the project said this week.
Cuba plans to produce 54,500 tonnes of nickel and cobalt sulfides this year, state-run television said at the weekend.
Tragedy struck Canadian company Sherritt (TSX:S) on Tuesday, with news that a bridge collapsed, killing four workers.
Cuba, the world’s sixth largest nickel producer and one of the top 10 nickel mining countries, also holds significant deposits of other minerals and oil, new U.S. Geological Survey report shows.
Sherritt International (TSX:S), the natural resources company with extensive operations in Cuba, saw a whopping 42.9 percent gain between last Monday and Friday, resulting from an announced thaw in US-Cuba relations.
But natural resource industry exempt.
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Toronto-based Sherritt International had a rough quarter, revealing on Wednesday a 50% drop in earnings from $63 million to $32 million when measured against the same quarter of 2011.
Sherritt International Corporation ("Sherritt" or the "Corporation") (TSX:S) today announced changes to the leadership of its senior management team, effective February 1, 2012.
Canada's number one coal producer and world-leading nickel miner, Sherritt jumped 10.2% on Wednesday after reporting a doubling of quarterly net earnings and good progress at its massive Ambatovy project in Madagascar. Sherritt will start production at Ambatovy in the first quarter of next year. The company has already spent more than 90% of the planned $5.5 billion to build what will be the world's biggest nickel mine with the capacity to produce 60,000 tonnes of nickel and 5,600 of cobalt a year. Sherritt and its Asian partners have made the largest investment in the island's history and will make nickel the country's number one export for the next 27 years.
Canadian mining and energy company Sherritt is expecting production declines in Cuba in 2011, Cuba Standard reported: Sherritt, Cuba’s largest foreign investor, said in its fourth-quarter financial report that it expects moderate production declines in […]