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The plan calls for a multi-phased approach, and work will include a new slurry preparation plant and expansion of other circuits at the mill. Existing equipment at Sherritt’s 100%-owned refinery in Fort Saskatchewan, Alberta, is part of the plan.

Moa is a lateritic nickel deposit mined by open pit methods. The ore is pressure acid leached on-site and then transported to the refinery in Canada. Finished nickel and cobalt are produced as well as a byproduct ammonium sulphate fertilizer.

The most recent 43-101 resource estimate at Moa was completed in 2019. At that time, the project had 111.9 million measured tonnes grading 1.03% nickel and 0.13% cobalt. The indicated portion was 46 million tonnes at 0.94% nickel and 0.12% cobalt. The inferred resource was 32.6 million tonnes grading 0.89% nickel and 0.13% cobalt.