It is understood that Canadian mining company Sherite International will increase its investment in nickel and cobalt mines in Cuba. At present, Cuba's Moya and Holguin mines produce about 35,000 tons of nickel and cobalt per year, and its output value is expected to increase by 20% after increased investment.
Demand for nickel and cobalt (durable battery electrode materials) is growing as the market for more durable batteries for electric cars is booming, Bloomberg said. Leon Benedel, the new president of Schlitt International, visited Cuba in October 2021. Benedel expressed his desire to increase the nickel and cobalt resources in the country and said the company would look for low-cost, low-risk investments to continue to increase production and profit.
