Hydrometallurgical nickel and cobalt recovery process

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 37,000 tonnes of nickel plus cobalt.

In Madagascar, Sherritt is constructing the Ambatovy nickel project. 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. When operational, the Ambatovy Joint Venture is set to deliver 60,000 tonnes of nickel and 5,600 tonnes of cobalt. For more information please visit the project site at www.sherritt.mg.

The nature of Sherritt's hydrometallurgical operations uniquely position the company to remain as a low-cost producer in the global nickel market.

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