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Metals The Metals business continues to focus on maintaining low cost production of finished nickel and cobalt from the development of Cuba's extensive nickel resources, as well as the Ambatovy Joint Venture in Madagascar.
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Hydrometallurgical nickel and cobalt recovery process
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Sherritt is an industry leader in mining, processing and refining lateritic nickel and cobalt. Using a proprietary hydrometallurgical technology, Sherritt is positioned to grow into one of the largest lateritic nickel producers in the world through its involvement in two world-class joint ventures.
In Cuba, Sherritt has a 50/50 partnership (The Moa Joint Venture) with General Nickel Company S.A ("GNC"), which annually produces approximately 38,000 tonnes of nickel plus cobalt.
Construction is now complete on the Ambatovy Joint Venture nickel project and production began in 2012. Sherritt, the project operator, has a 40% ownership position, Sumitomo and Korea Resources each have a 27.5% stake, and the project's engineering contractor, SNC-Lavalin, has a 5% interest. The Ambatovy Joint Venture has an annual design capacity of 60,000 tonnes of finished nickel and 5,600 tonnes of finished cobalt. For more information please visit the Ambatovy site at www.ambatovy.com
The nature of Sherritt's hydrometallurgical operations uniquely positions the company to remain as a low-cost producer in the global nickel market.
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Metals Prices (The London Metals Exchange (LME) provides metals prices.)
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