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Sherritt International Corp.

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Sherritt is a Canadian-based company dedicated to supplying critical minerals, specifically nickel and cobalt, through its 50% ownership in the Moa Joint Venture.

Investor website: https://sherritt.com/

About

Sherritt is a Canadian-based company dedicated to supplying critical minerals, specifically nickel and cobalt, through its 50% ownership in the Moa Joint Venture. With over 95 years of legacy, the company operates mining facilities in Moa, Cuba, and a refinery in Fort Saskatchewan, Alberta. Sherritt also produces agricultural fertilizer as a by-product of its refining process and is the largest independent energy producer in Cuba through its one-third ownership in Energas S.A.

Verified company data

Mineral resource
The 2019 Technical Report introduced several changes to the methodology used previously to determine the Moa JV’s Mineral Reserves estimates but arrived at no material changes to either the total Mineral Reserve estimates’ tonnage or grade. A comparison of the Mineral Resource estimates in the 2018 AIF and 2019 Technical Report is summarized in the following table: | | | | | | | | --- | --- | --- | --- | --- | --- | | **_Resource classification (includes Reserves)_** | **_Million of Tonnes_** | **_% of Nickel_** | **_‘000 tonnes Nickel_** | **_% of Cobalt_** | **_‘000 tonnes Cobalt_** | | _AIF 2018 Measured + Indicated_ | _76.1_ | _1.17_ | _890_ | _0.13_ | _99_ | | _AIF 2018 Inferred_ | _10_ | _1.39_ | _139_ | _0.12_ | _12_ | | _2019 Technical Report Measured + Indicated_ | _157.96_ | _1.00_ | _1,579_ | _0.13_ | _205_ | | _2019 Technical Inferred_ | _32.60_ | _0.89_ | _290_ | _0.13_ | _42.38_ | The 77% increase in Measured and Indicated Resources estimates determined by the 2019 Technical Report was primarily driven by the use of an economic cut-off grade that was marginally lower than the fixed cut-off grade used previously. With the increase in Measured and Indicated Resource estimates, Moa’s mine life has the potential for significant extension if the estimates are upgraded to Proven and Probable Mineral Reserves categories. The Moa JV currently has an estimated mine life of 15 years through 2033 based on Mineral Reserves estimates.
Projects
["The Moa JV explores, develops, mines and processes nickel laterite deposits in Cuba for refining into finished nickel and cobalt from a refinery in Fort Saskatchewan, Alberta and marketed to customers internationally. In 2019, Sherritt and the General Nickel Company S.A. will celebrate the 25-year anniversary of the formation of the Moa JV."]
Leadership
Dr. Peter Hancock (Interim President and Chief Executive Officer, Mining industry executive with over 35 years of experience, previously led nickel mining operations at Glencore and completed a US$7 billion greenfield Nickel Mine project.), Yasmin Gabriel (Chief Financial Officer, Accomplished finance leader with 15 years of experience at Sherritt, specializing in Financial Planning & Analysis and Financial Reporting.), Greg Honig (Chief Commercial Officer, Seasoned mining executive with diverse international experience in private equity and corporate development.), Chad Ross (Chief Human Resources Officer and Corporate Secretary, Strategic HR Practitioner with extensive financial background, joined Sherritt in 2011.), Elvin Saruk (Chief Operating Officer and Head of Cuban Operations, Over 30 years of experience with Sherritt managing large-scale operations.), Fitzroy Richardson (Interim Chief Financial Officer, Seasoned finance executive with nearly 30 years at Sherritt, currently President of New Providence Metals Marketing Inc.)

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