Sherritt International

Corporate brand

Canadian resource company specializing in nickel and cobalt mining, refining, and related energy and fertilizer operations.

Last updated October 17, 2026

AI crawler reads

No AI crawler has read this profile since Oct 28, 2026.

Overview

Sherritt International Corporation is a Toronto-based Canadian resource company whose principal activities center on nickel and cobalt production. Its most important mining and processing platform is the Moa Joint Venture in Cuba, a vertically integrated operation in which Sherritt partners with Cuba's General Nickel Company S.A. The venture extracts lateritic nickel ore by open-pit methods near Moa, processes the ore into mixed nickel-cobalt sulphides, and ships those intermediates to Sherritt's refinery in Fort Saskatchewan, Alberta. Finished nickel and cobalt products are sold internationally, with major markets historically including Europe, Japan, and China, while sales to the United States are excluded from the Moa business because of applicable restrictions. The Fort Saskatchewan complex is more than a metals refinery. It also includes sulphuric-acid, ammonia, utility, storage, and fertilizer facilities. These assets supply important inputs to the refining process and generate additional revenue through nitrogen and sulphate fertilizer sales, particularly in Western Canada. The refinery has been described as having annual capacity of approximately 35,000 tonnes of nickel and 3,800 tonnes of cobalt on a 100-percent basis, although actual production varies with operating conditions and joint-venture performance. Sherritt expanded its international nickel exposure through the Ambatovy Joint Venture in Madagascar. It acquired a substantial interest in the project in 2007, and the integrated mine, slurry pipeline, processing plant, and refinery reached commercial production in 2014. Ambatovy produces finished nickel and cobalt, but the project later became a major balance-sheet and ownership challenge. Sherritt exchanged debt and subsequently its remaining interest in the joint venture as part of transactions intended to reduce liabilities and improve liquidity. The company's history is broader than its current nickel-and-cobalt profile. It originated as Sherritt Gordon Mines Limited and operated the Sherritt-Gordon mine in Manitoba between 1931 and 1951. The company developed hydrometallurgical expertise associated with the Sherritt process, a set of technologies used to recover non-ferrous metals. In subsequent decades it entered oil and gas, fertilizers, coal, power generation, telecommunications, hospitality, agriculture, and technology-related activities. Many of these businesses were later sold, spun off, abandoned, or scaled back as the company focused on resources and energy. Sherritt maintains a significant presence in Cuba through oil and gas production and power generation as well as nickel and cobalt. Through its one-third interest in Energas S.A., it participates in natural-gas processing and combined-cycle power-generation facilities at Varadero and Boca de Jaruco, with electricity sold to Cuba's national grid under long-term arrangements. Its Cuban oil and gas operations involve offshore and near-shore reservoirs developed using land-based directional drilling. These activities expose the company to Cuban operating, commercial, political, and sanctions-related risks. The company has also faced environmental and economic pressures. Historical mining at Sherritt-Gordon left substantial tailings and contributed to acid mine drainage affecting Kississing Lake. More recently, low nickel prices, project debt, Cuban receivables, and the cost structure of international operations have influenced strategic and workforce decisions. In July 2025, Sherritt closed its Technologies division in response to the current nickel-price environment. Sherritt's current identity is therefore that of a specialized, internationally active nickel and cobalt producer with supporting fertilizer, energy, and hydrometallurgical processing capabilities, rather than the diversified conglomerate it once represented.

History

Sherritt International traces its origins to the incorporation of Sherritt Gordon Mines Limited in 1927. The company was named after Carl Sherritt, an American prospector associated with copper prospects in the Cold Lake area, and J. Peter Gordon, a civil engineer with railroad experience. Eldon Brown was the company's first employee and general superintendent. Sherritt Gordon developed and operated the Sherritt-Gordon mine in Manitoba from 1931 until 1951. The mine established the company's early identity as a base-metals producer but also left a difficult environmental legacy: its tailings contributed to severe acid mine drainage and pollution around Kississing Lake. The company broadened its technical base during the 1950s. It built a refinery at Fort Saskatchewan, Alberta, in 1954 and acquired Chemico's interests in relevant chemical-metallurgical patents in 1957. The resulting hydrometallurgical expertise became associated with the Sherritt process, which improved the recovery of nickel and cobalt from sulphide concentrates. Fort Saskatchewan subsequently developed into a central processing and industrial-services site, supporting both metals production and fertilizer manufacturing. During the 1990s, Sherritt expanded into energy, fertilizers, and Cuba. It acquired Canada Northwest Energy in 1991, changed its name to Sherritt Inc. in 1993, and acquired fertilizer assets from Imperial Oil in 1994. Sherritt International Corporation was incorporated in 1995, the same period in which the company began Cuban nickel, cobalt, oil, and gas activities. In 1998 it created Sherritt Power Corporation and established its interest in Energas, a Cuban gas-processing and electricity-generation venture. The company also made Cuban investments in telecommunications, agriculture, and hospitality, although those non-core holdings were later disposed of. Sherritt continued to diversify in the early 2000s. It participated in the acquisition of Luscar, Canada's largest coal producer at the time, through the Luscar Energy Partnership, and it pursued Cuban oil exploration with partners. In 2007, it acquired Dynatec, obtaining a major interest in the Ambatovy nickel project in Madagascar. Ambatovy was designed as an integrated mine-to-refinery operation consisting of a mine and ore-preparation plant near Moramanga, a roughly 220-kilometre slurry pipeline, and a processing and refining complex near Toamasina. The project reached commercial production in 2014. Sherritt later reduced its exposure to coal and other non-core businesses. It sold its coal investments to Westmoreland Coal Company in 2014. It also pursued the Sulawesi Nickel Project in Indonesia, but that project was ultimately abandoned. Ambatovy created significant financing pressure, and in 2017 Sherritt exchanged substantial debt for a reduced interest in the joint venture. In 2020, it exchanged its remaining interest for amounts owed by the Ambatovy partners. These transactions formed part of a broader effort to improve liquidity, reduce debt, lower cash interest costs, and extend maturities. The company's current operating structure is anchored by the Moa Joint Venture in Cuba and the Fort Saskatchewan complex in Canada. Moa combines open-pit laterite mining, processing, and production of mixed nickel-cobalt sulphides, while Fort Saskatchewan refines those intermediates and produces fertilizer and related chemical products. Sherritt also retains Cuban energy operations through Energas and oil and gas interests. Its activities have been shaped by commodity cycles, Cuban receivables and sanctions exposure, environmental obligations, project financing, and the increasing importance of nickel and cobalt to industrial and battery supply chains. In July 2025, it closed its Technologies division amid low nickel prices and reduced its workforce, reinforcing its focus on core operating assets.

2025
Technologies division closed
[1]Sherritt Internationalen.wikipedia.org
Sherritt closed its Technologies division in July amid low nickel prices and reduced its workforce.
2020
Ambatovy interest exchanged in balance-sheet initiative
[1]Sherritt Internationalen.wikipedia.org
Sherritt exchanged its remaining Ambatovy interest for amounts owed by the joint-venture partners as part of a liquidity and debt-reduction program.
2019
Fort Saskatchewan reaches cumulative nickel-production milestone
[1]Sherritt Internationalen.wikipedia.org
The refinery reached three billion pounds of cumulative nickel production.
2014
Ambatovy reaches commercial production
[1]Sherritt Internationalen.wikipedia.org
The integrated Madagascar mine and processing project entered commercial production.
2014
Coal investments sold
[1]Sherritt Internationalen.wikipedia.org
Sherritt sold its coal investments to Westmoreland Coal Company, reducing its exposure to coal.
2007
Dynatec acquisition expands Madagascar nickel exposure
[1]Sherritt Internationalen.wikipedia.org
A friendly acquisition of Dynatec gave Sherritt a major interest in the Ambatovy nickel and cobalt project.
1998
Energas power venture established
[1]Sherritt Internationalen.wikipedia.org
Sherritt created Sherritt Power Corporation and established an interest in Energas, a Cuban natural-gas processing and power-generation venture.
1995
Sherritt International Corporation incorporated
[1]Sherritt Internationalen.wikipedia.org
The corporate structure bearing the Sherritt International name was incorporated, with interests spanning mining, energy, and technology in Cuba.
1991
Entry into expanded oil and gas operations
[1]Sherritt Internationalen.wikipedia.org
Sherritt acquired Canada Northwest Energy, strengthening its energy portfolio.
1954
Fort Saskatchewan refinery constructed
[1]Sherritt Internationalen.wikipedia.org
Construction of the Alberta refinery created the foundation for Sherritt's later integrated nickel and cobalt processing system.
1931
Sherritt-Gordon mine begins operation
[1]Sherritt Internationalen.wikipedia.org
The company began operating its Manitoba mine, which remained in production until 1951.
1927
Sherritt Gordon Mines Limited incorporated
[1]Sherritt Internationalen.wikipedia.org
The predecessor company was incorporated, establishing the corporate foundation from which Sherritt International developed.

Products and positioning

A specialized international producer and refiner of nickel and cobalt, supported by fertilizer, energy, and hydrometallurgical processing assets.

Refined metal
Nickel
Nickel is Sherritt's principal commercial product. The Moa Joint Venture mines lateritic ore in Cuba and produces mixed nickel-cobalt sulphides, which are refined at Fort Saskatchewan into nickel products sold to international industrial markets. Nickel production is supported by the company's integrated mining, chemical, utility, and refining infrastructure.
Refined metal
Cobalt
Cobalt is recovered alongside nickel from the Moa orebody and processed through the same integrated Cuban-Canadian system. Sherritt's cobalt output serves industrial markets and gives the company exposure to a metal used in superalloys, chemicals, and rechargeable-battery materials.
Agricultural inputs
Fertilizers
The Fort Saskatchewan site produces nitrogen and sulphate fertilizers, primarily for the Western Canadian market. Fertilizer operations also provide useful integration with the metals refinery because some facilities supply inputs or process by-products associated with refining.
Power generation · 1998
Electricity
Through its one-third interest in Energas S.A., Sherritt participates in Cuban natural-gas processing and combined-cycle electricity generation. Energas operates facilities including plants at Varadero and Boca de Jaruco, with generated electricity sold to Cuba's national grid under long-term arrangements.
Energy production · 1991
Oil and gas
Sherritt's energy portfolio has included Cuban oil and gas exploration and production, with operations focused on reservoirs offshore or near Cuba's northern coast and development from land-based drilling sites. The company has also held working interests in oil fields and related infrastructure in Spain.

Controversies

1951
Environmental legacy of the Sherritt-Gordon mine
After the Manitoba mine closed, its substantial tailings contributed to acid mine drainage and pollution affecting Kississing Lake. The historical impact has been cited as a serious environmental legacy of the company's early mining operations.
Source

2025
Closure of Technologies divisionStrategy
Background
The company faced a difficult nickel-price environment and sought to adapt its organization and cost structure.
Action taken
Sherritt closed its Technologies division in July 2025 and reduced its workforce.
Aftermath
The decision concentrated the company more tightly on its core mining, refining, fertilizer, and energy activities.
Source
2020
Balance-sheet and Ambatovy restructuringStrategy
Background
Sherritt pursued improved liquidity and lower financing costs while managing its remaining exposure to Ambatovy.
Action taken
The company exchanged its remaining 12-percent Ambatovy interest for amounts owed by the joint-venture partners and implemented a broader debt-reduction initiative.
Aftermath
The initiative reduced debt by more than CAD 300 million, lowered annual cash interest payments, and extended the first material debt repayment date to November 2026, according to the referenced company history.
Source
2017
Ambatovy debt-for-equity restructuringStrategy
Background
The Ambatovy project created significant financing obligations for its partners.
Action taken
Sherritt exchanged approximately CAD 1.4 billion of debt to joint-venture partners for a reduction in its Ambatovy ownership interest.
Aftermath
Sherritt retained a smaller economic interest while reducing the financial burden associated with the project.
Debt exchanged. (2017)
Source
2014
Sale of coal investmentsM&A
Background
Sherritt had developed substantial coal exposure through earlier acquisitions and partnerships but was increasingly concentrating its portfolio on nickel, cobalt, energy, and related operations.
Action taken
The company sold its coal investments to Westmoreland Coal Company.
Aftermath
The transaction reduced Sherritt's exposure to coal and supported a narrower resource-company portfolio.
Source

Recent events

2025
Sherritt closes its Technologies division[1]Sherritt Internationalen.wikipedia.org
Leadership change
The company closed its Technologies division in July 2025, citing the operating environment and low nickel prices. The move resulted in a significant reduction in the workforce and marked a further concentration on core operating businesses.
2020
Sherritt completes balance-sheet restructuring[1]Sherritt Internationalen.wikipedia.org
M&A
A balance-sheet initiative reduced debt, lowered annual cash interest obligations, extended the first material debt repayment date, and exchanged Sherritt's remaining Ambatovy interest for amounts owed to the joint-venture partners.
2019
Sherritt reports three billion pounds of cumulative Fort Saskatchewan nickel production[1]Sherritt Internationalen.wikipedia.org
Product generation · Other
Sherritt's Fort Saskatchewan refinery reached three billion pounds of cumulative nickel production, highlighting the long operating history of its Canadian refining platform.

Sources8 sources

Cite this profile: Cite the canonical profile. /brand-wiki/sherritt-international · Editorial policy · How profiles are compiled