Sherritt to recoup $260 million of outstanding debt from Cuban partners
Mining News Pro - Sherritt International has entered agreements with its Cuban partners to settle C$362 million ($260 million) of total outstanding receivables over five years, beginning January 1, 2023. The agreements, known as the “cobalt swap”, would allow the Moa joint venture in Cuba to prioritize dividend payments in the form of finished cobalt to each partner, and each partner’s share of these cobalt dividends will be redirected to Sherritt as debt repayment.
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Sherritt plans to expand Cuban nickel mine
Mining News Pro - Sherritt International (TSX: S) is making plans to expand production and lengthen the life of the Moa nickel-cobalt mine in Cuba. Moa is a joint venture of Sherritt (50%) and General Nickel Co. of Cuba (50%).
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Biden easing up on Cuba would boost Canadian miner
Mining News Pro - Joe Biden’s victory in the US Presidential election marks a potential new chapter for one of Cuba’s biggest foreign investors.
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Biden easing up on Cuba would boost Canadian miner
Mining News Pro - Joe Biden’s victory in the U.S. presidential election marks a potential new chapter for one of Cuba’s biggest foreign investors.
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Cuba sees nickel output topping 50,000 tonnes
Mining News Pro - Cuba`s nickel plus cobalt sulfide production will top 50,000 tonnes this year and earnings are up over 2017, the head of the country’s state monopoly Cubaniquel was quoted by local media as stating on Wednesday.
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