| Sherritt Announces Acceleration of Ambatovy JV Shutdown | |
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TORONTO, ON--(Marketwired - June 24, 2016) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Sherritt International Corporation ('Sherritt') (TSX: S)today announced the commencement of a 14 day shutdown at the Ambatovy Joint Venture, bringing forward activity originally intended to be performed in August. A blockage in the tailings pipe was the main driver in the decision to accelerate the shutdown, as the process of emptying the pipe and addressing the associated causes and repairs requires a full re-start. Ambatovy second quarter production is now expected to be approximately 9,100 tonnes finished nickel and 660 tonnes finished cobalt (100% basis). Production in the quarter is affected by the shutdown and by a continuation of equipment reliability issues that affected first quarter production.
Full year production guidance will be reviewed and updated as part of second quarter reporting.
About Sherritt
Sherritt is the world leader in the mining and refining of nickel from lateritic ores with projects and operations in Canada, Cuba, and Madagascar. The Corporation is the largest independent energy producer in Cuba, with extensive oil and power operations across the island. Sherritt licenses its proprietary technologies and provides metallurgical services to mining and refining operations worldwide. The Corporation's common shares are listed on the Toronto Stock Exchange under the symbol 'S'.
Source: Sherritt Investor Relations
For further information, please contact:
Investor RelationsFlora Wood
Director Investor Relations
Telephone: 416-935-2451
Toll-Free: 1-800-704-6698
Email: [email protected]
www.sherritt.com
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Sherritt International Corporation
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PRODUCER |
CODE : S.TO |
ISIN : CA8239011031 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Sherritt International is a nickel producing company based in Canada. Sherritt International produces nickel, cobalt in Cuba, develops nickel in Madagascar. Its main asset in production is MOA in Cuba, its main asset in development is AMBATOVY in Madagascar and its main exploration property is COAL VALLEY in Canada. Sherritt International is listed in Canada. Its market capitalisation is CA$ 95.6 millions as of today (US$ 69.5 millions, € 65.2 millions). Its stock quote reached its highest recent level on September 22, 2006 at CA$ 9.99, and its lowest recent point on March 20, 2020 at CA$ 0.09. Sherritt International has 294 280 000 shares outstanding. |