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Sherritt International reduces operations at joint venture in Cuba
Sherritt expects to halt mining and standby processing at its Moa joint venture due to unfulfilled fuel deliveries amid Cuba's broader energy crisis, impacting 2026 earnings by $300,000 weekly.
- On Feb. 17, 2026, Sherritt International reduced operations at its Moa joint venture in Cuba after planned fuel deliveries were not fulfilled, expecting to pause mining and place the processing plant on standby within the next week.
- After the U.S. threatened tariffs, Mexico suspended fuel shipments and Cuba faced shortages, worsening its energy crisis, as reported on Monday.
- Sherritt International reported a fourth-quarter net loss of $15.8 million and a $65.7 million loss for 2025, and Hancock said, `While we expect it will take time to see the full benefits, we're confident this plan will stabilize production`.
- Sherritt says no immediate impact on its Fort Saskatchewan refinery, but the halt could reduce adjusted EBITDA by $300,000 per week, roughly 3 per cent of the bank's 2026 estimate.
- Air Canada, Air Transat and WestJet halted flights to Cuba because of unreliable aviation fuel, while rubbish piled up on Havana street corners on Monday amid worsening shortages.
31 Articles
31 Articles
The stoppage of a Canadian miner in Cuba, crucial for its extraction and export of nickel and cobalt, is a new blow to the island’s economy, rapidly deteriorating since Donald Trump’s administration cut off its access to international fuels and inputs. Canadian mining company Sherritt International announced on Tuesday that it has reduced the operations of its joint venture in Moa, advancing that it plans to pause them and place the processing p…
Canadian mining company Sherritt announced that it would suspend operations in Cuba next week due to the fuel blockade imposed by the United States.
Canadian mining company Sherritt said Tuesday it would suspend its core operations in Cuba due to the U.S.-imposed fuel embargo, another blow to the communist island nation's struggling economy.
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