Sherritt suspends Cuban joint venture participation as U.S. expands sanctions
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TORONTO – Sherritt International Corp. says it has suspended its direct participation in joint venture activities in Cuba following an expansion of U.S. sanctions against the country.
The Canadian mining company also says Brian Imrie, Richard Moat and Brett Richards have resigned from its board of directors.
The U.S. expanded sanctions against Cuba on May 1. Sherritt says it has not been formally designated under the executive order, but it notes that such a designation could happen at any time.
Sherritt and the General Nickel Company S.A. (GNC) of Cuba each hold a 50 per cent interest in the Moa joint venture which mines nickel in Cuba that is shipped to Canada where it is refined.
The company says it’s taking steps to repatriate its expatriate employees in Cuba and has requested that its partners also repatriate their expatriate personnel in Canada.
Sherritt noted there is no immediate effect on refinery operations in Fort Saskatchewan, Alta., where it is continuing to produce finished nickel and cobalt. It says there is enough feed material to last until about mid-June.
This report by The Canadian Press was first published May 7, 2026.
Companies in this story: (TSX:S)