HOUSTON, January 20th (Argus) - The mining and refining company Sherritt International had nickel and cobalt production at the lower end of the revised expectations last year, as challenges encountered during the operation of its Moa joint venture project in Cuba led to a decline in the production of both metals.
Headquartered in Canada, Sherritt and its Cuban partner General Nickel have planned to restore the output of mixed sulfides to the level before 2025 and will re-evaluate the expansion plan for the Moa project after the on-site stabilization is completed. The company said this on Monday.
The company reported that after the "Merissa" hurricane in the fourth quarter, production efficiency declined due to lower-than-expected ore extraction, delayed commodity purchases, and power grid disruptions, further limiting the output of mixed sulfides in the project.
In 2025, Sherritt's refined nickel production was 25,240 tons, a decrease from 30,331 tons in 2024. Its cobalt production also showed the same trend, with the company producing 2,729 tons of cobalt that year, lower than 3,206 tons in 2024.
The company recently lowered its annual production forecast for 2025 to 25,000-26,000 tons of refined nickel and 2,700-2,800 tons of refined cobalt. While it had previously estimated an output of 31,000-33,000 tons of nickel and 3,300-3,600 tons of cobalt in 2025.
