On February 17, 2026, Sherritt International Corporation announced that it has reduced operations at its joint venture in Moa, Cuba, due to limited fuel availability in the country. The company will suspend mining operations next week and place the processing plant on stand-by, during which planned maintenance will be carried out. The company has been notified that fuel scheduled for delivery to Moa will not arrive as expected, and the timing for resuming deliveries remains uncertain. Sherritt is actively engaging with relevant parties and evaluating all possible raw material procurement options.
Operations at the refinery in Fort Saskatchewan, Alberta, remain unaffected for now. The refinery continues to produce finished nickel and cobalt for sale, with existing raw material inventory expected to sustain operations until approximately mid-April. Energas SA's operations are proceeding as planned without any impact.
Sherritt is assessing various viable options to maintain operations and extend production cycles at both the Moa and Fort Saskatchewan sites, while taking measures to preserve and maximize liquidity. These measures include controlling expenditures to maintain financial flexibility and exploring potential sources of temporary funding support. The company expects to provide updated 2026 performance guidance once the supply chain and the timeline for fully resuming operations at its Moa mine and processing plant become clearer.
Written by Cora Ji, jiruyan@mysteel.com
