Sherritt International CorporationTSX: S JUL 04, 2015 BUY $2.15
Sherritt International Corporation (Sherritt) is engaged in the extraction and refining of nickel from lateritic ores with operations in Canada, Cuba and Madagascar. The company is an independent power producer in Cuba, with oil and electric operations across the island. Sherritt licenses its technologies and provides metallurgical services to mining and refining operations worldwide. In Cuba, Sherritt has a 50/50 partnership (The Moa Joint Venture) with General Nickel Company SA (CNG), which produces annually about 38,000 tonnes of nickel and cobalt. Sherritt exploration, develops and produces oil and gas, mainly in the fields to Cuba. Sherritt holds a one-third stake in indirect Energas, a joint venture to produce electricity for sale to the Cuban national grid. The remaining two thirds interest in Energas is owned equally by two Cuban agencies, Union Electrica (UNE) and Cubapetroleo (CUPET).