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History of Sherritt

2015

Sherritt achieves production test milestone (~90% of nameplate capacity measured over 90 days in a 100-day continuous period) and financial completion at Ambatovy.

2014

Sherritt achieves commercial production at Ambatovy. Sherritt completes divestiture of coal business.

2013

Quarterly Dividend increased to $0.043 per share in first-quarter 2013. Retirement of Ian W. Delaney, founding Chairman. Sherritt entered into agreements to sell its Coal operations for total consideration of $946 million to two separate companies. Sherritt announces it will no longer pursue the Sulawesi Nickel Project.

2012

Production of finished nickel and cobalt commences at Ambatovy.

2011

Construction at Ambatovy is completed.

2010

Sherritt purchases remaining interest in Coal Valley Partnership in June. Quarterly dividend increased to $0.038 per share in fourth quarter 2010. Sherritt acquires controlling interest in the Sulawesi Nickel Project in Indonesia in December 2010.

2008

150 MW power expansion at Boca de Jaruco commences. Sherritt suspends expansion activities due to global financial crisis. Sherritt acquires all outstanding units of Royal Utilities Income Fund in May 2008.

2007

Sherritt acquires Dynatec Corporation, including a 40% ownership in the Ambatovy Nickel Project. Sherritt Technologies is formed, including the former Dynatec Metallurgical Technologies operations, to utilize and license the Corporations 50+ years of hydrometallurgical research, development and commercial process implementation.
65 MW power expansion completed.

2006

Metals Enterprise expansion initiated at Moa, Cuba. 85 MW power expansion is completed and a new 65 MW expansion begins.

2005

Sherritt Metals Fort Site celebrates 2 billion pounds cumulative nickel production. Two million tonne Coal Valley mine expansion announced; construction is completed the next year. A quarterly dividend is initialized, beginning with $0.25 per share.

2004

Sherritt celebrates 50 years of operations at the Fort Saskatchewan refinery. Through its minority interest in Energas, Sherritt begins construction on an 85 MW expansion in Cuba.

2003

Luscar Energy Partnership acquires the Canadian thermal coal assets of Fording Inc. Sherritt sells its interest in Cubacel.

2001

Sherritt and a partner acquire Canada's largest coal producer, Luscar Ltd., creating the Luscar Energy Partnership.

1998

Sherritt creates Sherritt Power Corporation which constructs and operates power-generating facilities in Cuba through a one-third ownership in Energas SA. Sherritt purchases 37.5% of the company operating Cubacel, the cellular telephone operator in Cuba.

1997

Sherritt acquires Dynatec International Ltd. and merges it with Sherritt’s metallurgical consulting business, creating Dynatec Corporation which is spun out as a separate public company.

1996

Sherritt Inc. changes its name to Viridian Inc. to reflect its core fertilizer business. Viridian is then acquired by Agrium Inc.

1995

Sherritt Inc. creates Sherritt International Corporation, an independent Canadian public company, to hold the nickel business.

1994

Sherritt acquires fertilizer assets from Imperial Oil Limited and becomes the largest producer of nitrogen and phosphate fertilizers in Canada and one of the largest fertilizer producers in the world. Sherritt extends its nickel and cobalt refining business into a vertically integrated mining/refining business in a 50:50 joint venture with General Nickel S.A. of Cuba.

1993

Sherritt Gordon Limited renamed Sherritt Inc. Sherritt completes an extensive refurbishment and expansion of its Fort Saskatchewan nickel and cobalt refinery to allow efficient processing of a significant new feed source, mixed sulphides from Moa Nickel.

1991

Sherritt acquires Canada Northwest Energy Limited (CNW), a Calgary-based producer of oil and natural gas.

1990

The Fort Saskatchewan refinery is temporarily shut down due to lack of feedstock. Ian W. Delaney leads a successful proxy contest for control of Sherritt.

1987

Aureate-bonded nickel coinage plant opens, contracted to supply Canadian “loonie” dollar coin blanks. Sherritt acquires United Chemical Company.

1986

Metals refinery celebrates 1 billion pounds cumulative nickel production. The Surigao nickel refinery is officially closed.

1979

Sherritt presents the City of Fort Saskatchewan with a clock tower to celebrate 25 years of operation. Sherritt begins production of cobalt-samarium powder for rare earth magnets.

1976

Closure of the Lynn Lake Mine. Sherritt’s nickel refinery becomes a toll processor. Purchase of Thio-Pet Chemicals, a producer of hydrogen sulphide used in the Fort Saskatchewan refinery. Sherritt begins producing nickel-bonded steel coinage products and ultra-fine cobalt powder.

1974

Production of refined nickel from the Marinduque-Sherritt-owned Surigao nickel laterite project on Dinagat Island in the Philippines, under license from Sherritt. This is the first commercial production of refined nickel directly from laterite ores.

1969

Sherritt licenses its ammonia pressure leach process for nickel concentrates and mattes to Western Mining Corp (Australia), and its acid pressure leaching process for PGM-bearing nickel-copper mattes to Impala Platinum (South Africa). Sherritt starts pilot testing its laterite leach process for the Marinduque project (Philiippines).

1967

Sherritt licenses its process for acid pressure leaching of nickel-cobalt sulphides to Outokumpo (Finland).

1961

Sherritt develops a coinage business, starting with shipments of nickel blanks from Fort Saskatchewan’s Rolling Mill to the Royal Canadian Mint. Within a decade, the Rolling Mill will be producing coin blanks for multiple countries as well as commemorative medallions. Sherritt conducts its first external technologies project, developing a nickel process for Marinduque Iron Mines (Philippines).

1957

Sherritt buys hydrometallurgical technology patents from Chemical Construction, including those used in the Moa facility then under construction.

1955

Sherritt research division transferred from Ottawa to Fort Saskatchewan; pilot plant equipment was transferred to form the basis of a cobalt refinery. Inland Chemicals builds a 100 t/d sulphuric acid plant to supply the Fort Saskatchewan refinery.

1954

Construction and startup of the nickel refinery including byproduct fertilizer was completed at Fort Saskatchewan.

1952

Construction begins on the refinery at Fort Saskatchewan, AB. The location is chosen due to abundant supplies of water and natural gas, required to make the ammonia for the refinery, and its location on the CNR line.

1948

UBC discovers a direct ammonia leach method that had the potential to simplify the processing of nickel concentrates.

1947

Sherritt initiates funding to the UBC to experiment with hydrometallurgical techniques for ore processing.

1941

First significant discovery of nickel at Lynn Lake.

1931

Sherridon mine production begins shipping copper concentrate to the new Hudson Bay copper smelter.

1927

Sherritt Gordon Mines Limited is incorporated to develop resources, principally base metals.