Cuba Fuel Squeeze to Halt Sherritt’s Nickel-Cobalt Operations
Heavy duty equipment at the Moa open-pit Nickel mine in Moa, Cuba.
Photographer: Sven Creutzmann/Mambo Photo/Getty ImagesSherritt International Corp. plans to suspend nickel and cobalt production in Cuba as fuel supply constraints affect the struggling communist-run island. The company’s shares plunged.
The Toronto-based firm has reduced operations at its Moa joint venture and expects to pause mining and processing within the next week, Sherritt said in a statement Tuesday. Planned maintenance activities will be performed during the downtime.