Sherritt International's Cuba Nickel Operations Shutdown Amid U.S. Sanctions
Sherritt International has ceased its nickel operations in Cuba due to escalating U.S. sanctions. The Canadian mining company, which has operated in Cuba for over three decades, faced a critical challenge when the U.S. imposed secondary sanctions targeting foreign entities in Cuba's mining, metals, and energy sectors. These sanctions threatened Sherritt's access to international banking systems, making continued operations untenable. The shutdown affects the Moa nickel mine, a joint venture with Cuba's General Nickel Company, and impacts several interconnected revenue streams, including nickel-cobalt sulfide production, refining operations in Alberta, and electricity generation through Energas SA. The suspension of operations marks a significant blow to Cuba's economy, which has already seen a dramatic decline in nickel export revenue from $788 million in 2021 to $88.6 million in 2024. 
