Sherritt halts plan to dissolve Cuba nickel mining venture amid U.S. sanctions - BNN Bloomberg
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Article Excerpt
Canadian miner Sherritt International says it is no longer pursuing a plan to dissolve its Cuban joint venture, reversing a decision it announced last week amid expanded U.S. sanctions on the country.
The company says it has been presented on a preliminary basis with “a potential value preserving opportunity” that it is evaluating.
Sherritt and the General Nickel Co. S.A. of Cuba each hold a 50 per cent interest in the Moa joint venture which mines nickel in Cuba that is shipped to Canada where it is refined.
Sherritt says it stopped the dissolution plan after consultations with its adviser…
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